Edition:
United Kingdom

Parrot Announces Proposed Early Exit From Parrot Automotive


Friday, 6 Jul 2018 

July 6 (Reuters) - PARROT SA ::REG-PARROT: PROPOSED EARLY EXIT FROM PARROT AUTOMOTIVE.MEMORANDUM OF UNDERSTANDING SIGNED WITH FAURECIA FOR NEGOTIATIONS CONCERNING PARROT'S POSSIBLE EXIT FROM PARROT AUTOMOTIVE.OVERALL AMOUNT RECEIVED BY PARROT WOULD REPRESENT 108.5 MILLION EUROS.PARTNERS HAVE DECIDED TOGETHER TO ARRANGE PARROT'S EXIT FROM SUBSIDIARY PARROT AUTOMOTIVE, WHICH HAS BEEN 20% OWNED BY FAURECIA SINCE MARCH 31, 2017..PARROT AND FAURECIA TO OPEN TALKS WITH A VIEW TO ORGANIZING PARROT'S EXIT FROM THEIR JOINT VENTURE..