Faurecia: plans to buy remaining shares in SAS
(CercleFinance.com) - Faurecia announces the signing of an MoU with Continental to buy the remaining 50% of its joint venture SAS, which is specialised in assembling and logistics of complex modules for vehicle interiors.
This project would be immediately accretive for Faureccia - both in terms of its operating margin, net income and return on capital invested. Its results would be consolidated within its interiors business.
The automotive equipment group would acquire this stake for 225 million euros (excluding cash). Having applied for the required regulatory authorisations, the transaction is expected to be completed at the start of 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
This project would be immediately accretive for Faureccia - both in terms of its operating margin, net income and return on capital invested. Its results would be consolidated within its interiors business.
The automotive equipment group would acquire this stake for 225 million euros (excluding cash). Having applied for the required regulatory authorisations, the transaction is expected to be completed at the start of 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.