Mumbai, Aug. 29 -- YGCL is a company duly incorporated and existing under the laws of Japan and is listed on Tokyo Stock Exchange and Shinnichi is a subsidiary of YGCL with 62% ownership by YGCL.

Samvardhana Motherson would execute the aforementioned acquisition through its wholly owned subsidiary Motherson Global Investments B.V. (MGI BV).

Additionally, the company will also acquire, either directly or through its wholly owned subsidiary, 100% of the shares in Yutaka Autoparts India (Yutaka India) from YGCL.

Honda Motor Co. (Honda) currently owns 69.66% stake in YGCL, and the rest is owned by the public. SAMIL would acquire 81% stake in YGCL in multiple steps. Post completion of all steps, Honda shall continue to own remaining 19% sta...