M&A: Recticel divests controlling stake in Automotive Interiors division, 50% stake in Eurofoam JV
Recticel to transfer its Automotive Interiors business to a new JV majority owned by investment company Admetos
Recticel has entered into a definitive agreement with a Germany-based private investment firm Admetos GmbH to partially divest its ownership in Automotive Interior business, the company said in a press release on 6 April. Under the agreement, Recticel’s Automotive Interior division will be transferred to a new JV holding company, in which Admetos will have controlling stake of 51%, while Recticel will own the remaining 49%. The agreement also offers reciprocal call/put options for Admetos to acquire or Recticel to sell its remaining share, which can be exercised from March 2024.