Faurecia: successful offer on Clarion shares
(CercleFinance.com) - Faurecia announces the success of its offer to buy the Japanese group Clarion, which it launched on 30 January, with its shareholders having tendered 95.
28% of their shares to the offer of the French automotive supplier.
Under the agreement of 26 October 2018, Hitachi has contributed its 63.8% stake. The settlement-delivery of the offer will take place on 7 March. Faurecia will then initiate a squeeze-out procedure to acquire the remaining shares.
On 1 April, Faurecia will inaugurate its new business based in Japan, Clarion Electronics, which will employ nearly 9,200 people, including over 1,650 software engineers, with it expected to generate sales exceeding two billion euros by 2022.
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