Faurecia: signs agreement to sell assets to Cummins
(CercleFinance.com) - After a phase of exclusive negotiations, Faurecia has announced that it has signed an agreement to sell part of its commercial vehicle exhaust aftertreatment business in Europe and the US to Cummins.
The deal, which has an enterprise value of E142m, after final technical adjustments, includes the transfer of two plants and their related activities in Roermond, The Netherlands, and Columbus, US, to Cummins.
The transaction, which is subject to regulatory approvals, is expected to close by the end of the year. The proceeds will contribute to the automotive supplier's E1bn asset disposal program by end-2023.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The deal, which has an enterprise value of E142m, after final technical adjustments, includes the transfer of two plants and their related activities in Roermond, The Netherlands, and Columbus, US, to Cummins.
The transaction, which is subject to regulatory approvals, is expected to close by the end of the year. The proceeds will contribute to the automotive supplier's E1bn asset disposal program by end-2023.
Copyright (c) 2023 CercleFinance.com. All rights reserved.