Motherson acquires remaining stake in Lumen Systems South Africa

Samvardhana Motherson International Limited (SAMIL) announced the acquisition of the remaining 10% stake in Motherson Lumen Systems South Africa Pty Ltd. (Motherson Lumen SA). This will make it an indirect wholly owned subsidiary.

This follows SAMIL's indirect wholly owned subsidiary, Samvardhana Motherson Automotive Systems Group B.V. (SMRP B.V.), acquiring 90% of Motherson Lumen SA as part of a broader acquisition of the Lumen Group on April 8, 2024. The remaining 10% was previously owned by Mr. Sundras Naidu.

The total consideration for this 10% stake is ZAR 10 million. The transaction is expected to close by Q3 FY 2025-26. Motherson Lumen SA, engaged in the design, manufacture, and supply of OEM-certified automotive parts, accessories, and dealer fit products, reported a turnover of ZAR 135 million in FY 2024-25.

This acquisition is not a related party transaction and requires no governmental or regulatory approvals. The move aims to streamline the company's structure, bolster decision-making, and ensure future growth benefits accrue entirely to SAMIL.