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Motherson Sumi Systems (MSSL) is a subsidiary of the Sumi Motherson auto component group. The company's board had cleared the proposal and the acquisition will be made through a step-down special purpose vehicle (SPV) to be constituted 51% by MSSL and 49% by Samverdhan Motherson Finance.
Visiocorp's global rearview mirror business had revenues of E700 million and normalized earnings before interest, taxes, depreciation and amortization of E48 million in 2007. The SPV's proposed capital outlay is E30 million.
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