Faurecia completes acquisition of Parrot Faurecia Automotive
In July this year, Faurecia and Parrot had agreed to accelerate planned takeover of Parrot Faurecia Automotive by end-2018
Faurecia has completed the acquisition of 100% stake in Parrot Faurecia Automotive, the French automotive supplier said in a press release on 1 October. According to Faurecia, the transaction was based on an enterprise value of EUR100 million (USD115.5 million). Parrot received EUR67.5 million (USD77.9 million) from the transaction, taking its overall proceeds from this unit up to EUR108.5 million, the company said in a press release.