Spain's Antolin to sell India operations for €150 million
Spanish auto components manufacturer Grupo Antolin is planning to divest its India business for €150 million as part of a liability management strategy. The company, serving major global and Indian auto makers like Tata Motors and Mahindra, operates six plants across India. PwC has been appointed to facilitate the sale process.
Grupo Antolin, a Spanish family-owned auto components maker headquartered in Burgos, is preparing to sell its India operations valued at €150 million. The company supplies global passenger vehicle manufacturers including Alfa Romeo, Ferrari, Aston Martin, Skoda Volkswagen, Hyundai, and local Indian firms such as Tata Motors and Mahindra and Mahindra. Operating in India for two decades, Grupo Antolin has six manufacturing plants located in Bengaluru, Chennai, Gurugram, Pune, Sanand, and Vijayawada. The planned divestment is part of Grupo Antolin's broader liability management and transformation plan, which involves annual divestments to meet commitments with bondholders. This move reflects a wider trend among European auto parts manufacturers reviewing their India businesses to optimize capital and reduce liabilities. Despite this, India's auto components sector continues to attract foreign investment via private equity routes. PwC is acting as the advisor to facilitate the sale. Grupo Antolin specializes in producing vehicle interiors, including headliners, door and dashboard trims, and lighting systems, and reported global sales of €4.62 billion in 2023 with growing business in Asia, including India. The company remains focused on improving capital structure and efficiency through such asset sales[1][2][3][5].
