Shriram Pistons & Rings has entered into a Share Purchase Agreement
with Grupo Antolin Irausa, S.A.U. and Grupo Antolin Ingenieria, S.A.U. (collectively referred to as “Sellers”) in relation to direct and indirect acquisition of all outstanding shares of the following companies:
- Antolin Lighting India (T1);
- Grupo Antolin India (T2); and
The SPRL Group in line with its strategic objective of enhancing capabilities and expanding its presence in the automotive components industry, it has entered into the proposed transaction involving certain Grupo Antolin Companies. These entities are leading providers of automotive interior solutions, manufacture and sale of products such as headliner substrates, modular headliners and sunvisors, door panels, centre floor consoles, pillar trim, front-end carriers (exterior plastic part), overhead consoles, dome lamps, ambient lighting, touch panels, and capacitive pads to major Original Equipment Manufacturers (OEMs) across India.
Upon completion of the transaction, the SPRL Group will be able to expand into product areas independent of powertrain technologies, strengthen its position in the auto components industry, and create long-term value for stakeholders. As part of this proposed transaction, SPRL will enter into a Technology Licensing Agreement with Grupo Antolin to ensure continuous access to advanced technologies and support for new product development.