The Proposed Combination involves the transfer of the chassis and BIW business division of Magna Automotive India Private Limited (Magna India) operating under name of ‘Cosma India’ (Target Business) (presently owned and operated by Magna India) to SKH M India Private Limited (SKH M India), which will be jointly controlled by SKH Sheet Metal Components Private Limited (SKH SMC), SKH Management Strategy Services LLP (SKH LLP) and Magna India.
SKH SMC is engaged in the business of manufacturing fuel tanks, chassis, and BIW parts and seat structures for passenger vehicles. It has four manufacturing facilities, namely, one in Binola (NCR), two in Ranjangaon (near Pune) and one in Chennai. SKH LLP provides management services to Krishna Group companies. SKH M India has been incorporated by SKH SMC and SKH LLP for the purpose of owning and operating the Target Business.
It did not undertake any business activities as on the date of giving the Notice. Magna India manufactures a comprehensive range of metal body & structural assemblies, components, sub-assemblies, and modules including chassis and BIW components and assemblies, through plants based in Pune (Maharashtra), Chennai (Tamil Nadu), and Gujarat (Sanand).
In addition to the above, Magna India has several automotive engineering centers based in Pune and Bangalore from which it caters to inter-company customers as well as domestic OEMs with automotive engineering, particularly in seating systems, complete vehicle engineering, automated driver assist systems (ADAS), powertrain systems, electrical/ electronic architecture, etc. The Target Business is engaged in the design, manufacture, and sale of BIW and chassis parts and assemblies for passenger vehicles in India. It has four manufacturing sites, two in Pune (Maharashtra), one in Chennai (Tamil Nadu), and one in Sanand (Gujarat). Detailed order of the Commission will follow.
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