Brief: French groups Faurecia finalises acquisition of stake in Parrot Automotive
27/03/2017 05:45
March 27 (Reuters) - Faurecia EPED.PA /Parrot PARRO.PA :
* Parrot wraps up its strategic and capital partnership
between Faurecia and its subsidiary Parrot Automotive
* Faurecia will initially acquire a 20% interest in Parrot
Automotive SAS through a reserved capital increase for 27.3
million euros
* The price for the new shares has been set based on an
enterprise value of 100 million euros for Parrot Automotive
* Faurecia will subscribe to bonds to be converted into
existing Parrot Automotive shares issued by Parrot SA, for a
total of 41 million euros
Further company coverage: EPED.PA
((sudip.kargupta@thomsonreuters.com;))