Antolin has agreed to sell three of its legal entities in India to Shriram Pistons & Rings for €159 million as part of its strategy to enhance financial stability.

Target Information

Antolin, a leading global supplier of technological solutions for vehicle interiors, has announced the sale of three legal entities to Shriram Pistons & Rings Ltd for €159 million. This transaction is part of the company's ongoing efforts to enhance its financial position. The sale involves over 1,500 employees who will transition to Shriram Pistons & Rings, a well-established Indian manufacturer of automotive components. The transferred business is projected to generate annual revenues of approximately €110 million and specializes in manufacturing interior vehicle components such as headliners, interior trim pieces, and lighting systems.

Additionally, Antolin will enter into a long-term technological licensing agreement with Shriram Pistons & Rings to ensure continuous supply and maintain top-tier quality standards comparable to its global operations. Following the transaction's completion, Antolin will retain its development offices in Pune and Hyderabad, along with its joint venture with Krishna Maruti Limited.

Industry Overview in India

The automotive industry in India has witnessed rapid growth due to rising disposable income, urbanization, and a burgeoning interest in personal mobility solutions. The country is projected to become the third-largest