Motherson Sumi to merge group firm, 2 units


NEW DELHI, April 28 (Reuters) - Auto parts maker Motherson Sumi Systems Ltd on Thursday said its board has approved merger of two units and a group company with itself to consolidate its wiring harnesses and plastic components business. The exchange ratio for the merger of group firm Sumi Motherson Innovative Engineering Limited (SMIEL) with Motherson Sumi will be decided on the basis of valuation made by Deloitte in 3-4 weeks, G.N. Gauba, chief financial officer, told Reuters over the ...

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