The €4 billion family business serves the who’s who of global passenger car makers such as Alpha Romeo, Ferrari, Aston Martin, Skoda Volkswagen and Hyundai, to name a few.
India’s top tier auto parts suppliers and private equity firms are likely to be tapped, the people cited earlier said.In India, the company’s customers include Tata Motors, Mahindra and Mahindra and Skoda Volkswagen.
PwC has been engaged to facilitate the sales process.
“We do not comment on market speculation or rumours,” a Grupo Antolin spokesperson said when contacted by ET. The company’s headquarters are located in the Spanish city of Burgos. It started in the 1950s as a mechanic’s garage.
The sale is being attempted as part of a liability management exercise as Grupo Antolin has committed annual divestments to bondholders.
The company is 100% privately owned by the Antolin family.Grupo Antolin makes cabin interiors such as headliner or roof coverings, door and dashboard trim and lighting systems for passenger cars.
It has been present in India for 20 years and operates six factories. These are located in Bengaluru, Chennai, Gurugram, Pune, Sanand and Vijayawada.
Industry watchers said there are other European auto components players who may re-examine their operations in India due to liability management at home. They did not mention any companies actively pursuing divestitures. On the contrary, the Indian auto components sector has witnessed a growing trend of foreign investment through the private equity route.
#Spanish #Antolin #ceasing #activities #India #million #euros