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4 months ago
BRIEF-French groups Faurecia finalises acquisition of stake in Parrot Automotive
March 27, 2017 / 4:49 AM / 4 months ago

BRIEF-French groups Faurecia finalises acquisition of stake in Parrot Automotive

1 Min Read

March 27 (Reuters) - Faurecia/Parrot:

* Parrot wraps up its strategic and capital partnership between Faurecia and its subsidiary Parrot Automotive

* Faurecia will initially acquire a 20% interest in Parrot Automotive SAS through a reserved capital increase for 27.3 million euros

* The price for the new shares has been set based on an enterprise value of 100 million euros for Parrot Automotive

* Faurecia will subscribe to bonds to be converted into existing Parrot Automotive shares issued by Parrot SA, for a total of 41 million euros Further company coverage:

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