Forvia to sell its interiors business to Apollo Funds for $2.1 billion - Reuters

<a href="https://news.google.com/rss/articles/CBMitAFBVV95cUxQOVZsWWs3WjFGeDlQOWZyb21LcnBfcWxiNFMyRURqSWEtWXRkbjFkc1JWaXIyaXB3TjVPQ0tadGxHMGJ6WF8tQXd4UHA2dEdqZDNQX2g0aHJWT1NKSVlvOEpIamdvSS0ySXdzT0FMd2lUQ245T1ZVRFpSanJ6UndkcW10NU1oeUlMelpTRlEyVTFCaGhxVFppV3VPNUxJNWRPWEdOeHk5czBldlRPQUVlcVJpSXo?oc=5" target="_blank">Forvia to sell its interiors business to Apollo Funds for $2.1 billion</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

Forvia announced the sale of its Interiors business to Apollo Funds for €1.82 billion ($2.13 billion), aiming to reduce net debt by at least €1 billion and focus on high-value, technology-driven growth.

Forvia agreed to sell its Interiors Business Group to Apollo-managed funds for €1.82 billion, as part of its IGNITE strategy to focus on high-value, technology-driven activities and reduce net debt by at least €1 billion.

Apollo Global Management Inc. agreed to acquire Forvia SE’s auto interiors business for €1.82 billion ($2.1 billion), helping the French supplier cut debt and streamline its business. The deal is expected to close in the second half of this year.

Apollo Global Management announced that funds it manages have agreed to acquire Forvia SE’s Interiors Business Group in a carve-out transaction. The Interiors Business supplies automotive interior products to global automotive original equipment manufacturers.