HELSINKI (Reuters) – India-based car parts maker and engineering group Motherson Sumi Systems Ltd (MOSS.NS) has agreed to buy Finnish truck wire maker PKC Group (PKC1V.HE) for 571 million euros ($ 609 million), PKC said on Thursday.
Motherson has offered 23.55 euros per PKC share, representing a 51 percent premium to PKC’s closing price on Thursday.
“Combining the two companies will create a leading supplier of wiring systems and components for the worldwide transportation industry,” PKC said in a statement.
The Finnish company said its board backs the offer.
($ 1 = 0.9377 euros)
(Reporting by Jussi Rosendahl; Editing by Leslie Adler)
