In a recent development, Motherson Group has decided to halt its plans to acquire a 21% minority stake in Symbiose SAS. This decision comes after the company’s consideration of the acquisition from the insolvency administrator.
The acquisition of the Dr. Schneider Group, including its assets and certain employee liabilities, was successfully completed on October 2, 2023, except for the aforementioned stake in Symbiose SAS. The initial plan was to finalize the acquisition of this minority shareholding post the Closing Date for an amount not exceeding 50k Euros.
The company has stated that this decision will not have any significant impact on the closed transaction or the overall business synergies between Dr. Schneider and Motherson.