Forvia to sell its interiors business to Apollo Funds for $2.1 billion - Reuters
Forvia to sell its interiors business to Apollo Funds for $2.1 billion Reuters
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Notable Quotes
"The Transaction project announced today reflects the strength and leadership of FORVIA Interiors, as well as the expertise and commitment of its teams."
— Martin Fischer , Executive
"The automotive interiors industry is evolving rapidly as manufacturers increasingly differentiate their vehicles through cabin design, premium materials and new technologies."
— Michael Reiss , Executive
"The carve-out transaction, which is subject to closing conditions including regulatory approvals, is expected to be completed in the second half of this year."
— Apollo Global Management Inc. , Executive
Key People
Apollo Global Management Inc. is an American private equity firm specializing in alternative investments.
Forvia SE is a global automotive supplier specializing in sustainable mobility solutions.
CEO of FORVIA, a global automotive technology supplier.
Private Equity Partner at Apollo.
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<a href="https://news.google.com/rss/articles/CBMitAFBVV95cUxQOVZsWWs3WjFGeDlQOWZyb21LcnBfcWxiNFMyRURqSWEtWXRkbjFkc1JWaXIyaXB3TjVPQ0tadGxHMGJ6WF8tQXd4UHA2dEdqZDNQX2g0aHJWT1NKSVlvOEpIamdvSS0ySXdzT0FMd2lUQ245T1ZVRFpSanJ6UndkcW10NU1oeUlMelpTRlEyVTFCaGhxVFppV3VPNUxJNWRPWEdOeHk5czBldlRPQUVlcVJpSXo?oc=5" target="_blank">Forvia to sell its interiors business to Apollo Funds for $2.1 billion</a> <font color="#6f6f6f">Reuters</font>
Forvia agreed to sell its Interiors Business Group to Apollo-managed funds for €1.82 billion, as part of its IGNITE strategy to focus on high-value, technology-driven activities and reduce net debt by at least €1 billion.
Apollo Global Management Inc. agreed to acquire Forvia SE’s auto interiors business for €1.82 billion ($2.1 billion), helping the French supplier cut debt and streamline its business. The deal is expected to close in the second half of this year.
Apollo Global Management announced that funds it manages have agreed to acquire Forvia SE’s Interiors Business Group in a carve-out transaction. The Interiors Business supplies automotive interior products to global automotive original equipment manufacturers.
Forvia announced the sale of its Interiors business to Apollo Funds for €1.82 billion ($2.13 billion), aiming to reduce net debt by at least €1 billion and focus on high-value, technology-driven growth.
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