December 13, 2018 / 3:38 PM / a year ago

Exclusive: Motherson Sumi in early stage talks with Leoni over deal - sources

FRANKFURT/HONG KONG (Reuters) - Car wiring maker Motherson Sumi (MOSS.NS) is in early-stage talks with German peer Leoni (LEOGn.DE) over a possible combination of the two companies, two people close to the matter said.

Motherson Sumi, which has been scouting for a sizeable acquisition target in Europe with the help of an investment bank, still needs to work out the financing for a possible deal, expected to be worth more than 1 billion euros (900.55 million pounds), one of the people said.

The exact deal structure is still unclear, and deliberations may not result in any deal at all, the sources said.

Motherson Sumi, which has a market cap of $7.1 billion, had no immediate comment. Leoni declined to comment.

Additional reporting by Aditi Shah and Alexander Hübner; Editing by Maria Sheahan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below