Faurecia completes purchase of Parrot Faurecia Automotive
Nanterre (France), October 1st, 2018. Faurecia today announced that it had completed the acquisition of 100% of Parrot Faurecia Automotive.
The deal follows the announcement of an agreement between Parrot and Faurecia on July 5 this year regarding Faurecia's proposal to acquire 100% of Parrot Faurecia Automotive. The transaction is based on an enterprise value of € 100 million, identical to that used when Faurecia entered into the capital of Parrot Automotive in 2017.
Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 290 sites including 30 R&D centers and 109,000 employees in 35 countries, Faurecia is now a global leader in its three areas of business: automotive seating, interior systems and clean mobility. Faurecia has focused its technology strategy on providing solutions for smart life on board and sustainable mobility. In 2017, the Group posted total sales of €20.2 billion and value-added sales of €17.0 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index.
For more information, please visit www.faurecia.com