Faurecia: due to take over Parrot Automotive
(CercleFinance.com) - Faurecia and Parrot have announced that they have signed a draft agreement for the early takeover of 100% of Parrot Automotive by Faurecia.
The project will be submitted to the competent competition authorities and could be completed in the third quarter.
Faurecia specifies that this transaction would be carried out on the basis of an enterprise value of 100 million euros - identical to that used when Faurecia took a stake last year.
This deal will accelerate the development of Android infotainment solutions by Parrot Automotive and develop an open platform to host the different connected systems and features of vehicle interiors.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The project will be submitted to the competent competition authorities and could be completed in the third quarter.
Faurecia specifies that this transaction would be carried out on the basis of an enterprise value of 100 million euros - identical to that used when Faurecia took a stake last year.
This deal will accelerate the development of Android infotainment solutions by Parrot Automotive and develop an open platform to host the different connected systems and features of vehicle interiors.
Copyright (c) 2018 CercleFinance.com. All rights reserved.