Forvia sells automotive interiors business to Apollo Global Management for $2.13 billion
Updated
Updated · The Wall Street Journal · Apr 27
Forvia sells automotive interiors business to Apollo Global Management for $2.13 billion
5 articles · Updated · The Wall Street Journal · Apr 27
The deal values the unit at €1.82 billion ($2.13 billion) and covers operations across Europe, North America, and Asia, employing over 31,000 people.
Forvia aims to focus on technology-driven activities and expects to cut at least €1 billion in net debt, strengthening its financial position.
The interiors business accounts for about 18% of Forvia’s revenue. The transaction is expected to close by year-end, pending regulatory approvals and closing conditions.
How will Forvia leverage this sale to win the automotive technology race against its rivals?
What is Apollo's vision for the 31,000 employees of its new standalone auto interiors company?
Can Apollo transform a low-growth auto parts business into a high-return investment in today's market?
Is selling legacy assets to private equity the new survival model for automotive suppliers?
As car cockpits become software-defined, can a standalone interiors company truly innovate and thrive?