March 27, 2017 / 4:29 AM / 10 months ago

India's Motherson Sumi buys Finland's PKC Group for $619 million

(Reuters) - Indian auto parts maker Motherson Sumi Systems Ltd (MSSL) (MOSS.NS) said on Monday it had completed the buyout of Finland’s PKC Group PKC1V.HE for 571 million euros ($619.4 million).

Motherson is now the controlling shareholder of PKC Group, holding 93.75 percent of PKC's outstanding shares and stock options. (bit.ly/2nYp6nk)

    “There is a great synergy between MSSL & PKC and a complementary geographical presence to serve the customers in all regions,” Motherson said in a statement.

    Shares of Motherson, which have gained 12 percent since the deal was made public on Jan. 20, were trading slightly higher on Monday.

    Reporting By Darshana Sankararaman in Bengaluru; Editing by Amrutha Gayathri

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