Motherson Sumi Systems Limited made an offer to acquire PKC Group Oyj for approximately 570 million.
As of February 10, 2017, deal was approved by the FTC. As of March 16, 2017, AS Harju Elekter has decided to accept the tender offer and will tendered its holding of 1.1 million shares. As of March 20, 2017, the deal was unconditionally approved by the European Commission. As of march 21, 2017, all pre-closing regulatory approvals for the completion of the tender offer were obtained following approval by the European Commission. The transaction is expected to close by end of March 2017. As on March 22, 2017, final result of the tender offer will be announced on March 24, 2017 and the completion is expected to take place on March 29, 2017.
Motherson Sumi has appointed Nordea Corporate & Investment Banking and Motilal Oswal Investment Advisors as financial advisers and White & Case LLP as legal adviser. Merrill Lynch International acted as the financial advisor and fairness opinion provider and Borenius Attorneys Ltd. acted as legal adviser for PKC Group. Saurabh Saxena and Abhishek Bose from Adfactors PR Pvt. Ltd. served as the public relations contacts on the deal for Motherson Sumi Systems. Alexandra Therman, Otto Kattelus, Nicolas Lindfors and Joosep Kadak of Nordea Corporate & Investment Banking acted as financial advisors to Motherson Sumi.