India MothersonSumi financing € 80 million to purchase equity in Germany

     According to Reuters, the Indian auto component manufacturers MothersonSumi by 80 million euros of foreign debt to buy a majority stake in Germany's Peguform Group.

     As the world's largest automotive mirror manufacturer, MothersonSumi earlier this month announced the acquisition of a majority stake in Germany's Peguform Group, this transaction totaling 141.5 million euros, the acquisition of the German Peguform Group shares worth 72.17 million euros.

     Chief Financial Officer GNGauba, said the funds will be used for the acquisition and expansion plans.