(CercleFinance.com) – Faurecia announces that it has received a firm and binding offer from Motherson to acquire its SAS Cockpit Modules division, a provider of assembly and logistics services for the automotive industry, on the basis of an enterprise value of 540 million euros.
The automotive supplier explains that this disposal would allow it to refocus on its core business by developing cutting-edge technologies and to carry out its program of disposal of non-strategic assets of one billion euros by the end of 2023.
SAS generated net sales of €896 million in 2022 and has over 5,000 employees across more than 24 locations. Completion of the contemplated transaction would be subject to customary regulatory approvals and expected in the middle of this year.