Motherson Sumi Buys Finland's PKC Group For $619 Million

Auto parts maker Motherson Sumi Systems Ltd (MSSL) said on Monday it had completed the buyout of Finland's PKC Group 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.

"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.

($1 = 0.9219 euros)

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