Forvia: progress in its disposal program

(CercleFinance.com) - Forvia is making progress on its second ?1 billion asset disposal program with the announcement of an agreement to transfer its 100%-owned subsidiary, Hug Engineering, to the Belgian OGEPAR group for an enterprise value of around ?55 million.


Hug Engineering is a major player in pollution control systems for high-performance engines, and is currently part of Forvia's Clean Mobility business.

Cumulative cash proceeds from the closing of Forvia Hella's sale of its stake in BHTC together with those from the newly signed transaction, expected to close by the end of June 2024, are expected to total approximately 250 million euros.

Today's announcement will help reduce the Group's financial expenses and accelerate deleveraging.

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