Brief: Parrot Announces Proposed Early Exit From Parrot Automotive

Parrot SA

06/07/2018 06:36

July 6 (Reuters) - PARROT SA  PARRO.PA :
    * REG-PARROT: PROPOSED EARLY EXIT FROM PARROT AUTOMOTIVE
    * MEMORANDUM OF UNDERSTANDING SIGNED WITH FAURECIA FOR
NEGOTIATIONS CONCERNING PARROT'S POSSIBLE EXIT FROM PARROT
AUTOMOTIVE
    * OVERALL AMOUNT RECEIVED BY PARROT WOULD REPRESENT 108.5
MILLION
EUROS
    * PARTNERS HAVE DECIDED TOGETHER TO ARRANGE PARROT'S EXIT
FROM
SUBSIDIARY PARROT AUTOMOTIVE, WHICH HAS BEEN 20% OWNED BY
FAURECIA SINCE MARCH 31, 2017.
    * PARROT AND FAURECIA TO OPEN TALKS WITH A VIEW TO
ORGANIZING
PARROT'S EXIT FROM THEIR JOINT VENTURE.

Source text for Eikon:  ID:nGNEbP3vp4 
Further company coverage:  PARRO.PA 

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