Sojitz Corporation Sells 2.83% Stake In Samvardhana Motherson For Rs 825 Crore

Sojitz Corporation on Tuesday divested 2.83% stake in auto component major Samvardhana Motherson International for Rs 825 crore through an open market transaction.

According to the bulk deal data available with the BSE, Sojitz Corporation offloaded 12,80,00,000 shares, amounting to 2.83% stake in the company.

The shares were disposed of at an average price of Rs 64.53 apiece, taking the transaction value to Rs 825.98 crore.

In July 2020, the Motherson Group announced that they will reorganise its businesses and will change the name of Motherson Sumi Systems Ltd. to Samvardhana Motherson International Ltd.

Shares of Samvardhana Motherson International closed 7.73% lower at Rs 63.85 apiece on the BSE.