Brief: Parrot has entered into discussions of partnership between its subsidiary, Parrot Automotive, and Faurecia
06/12/2016 17:12
Dec 6 (Reuters) - Parrot Sa PARRO.PA
* Has entered into exclusive discussions in relation to a project of partnership between its
subsidiary, Parrot Automotive, and Faurecia EPED.PA
* This partnership would provide the best conditions to develop connected vehicles of the
highest quality and benefit from Faurecia's industrial power and complementary expertise
* Faurecia would subscribe to a share capital increase in Parrot Automotive, which would
grant Faurecia a 20 pct shareholding, based on an enterprise value of Parrot Automotive of 100
million euros ($107.13 million)
* In addition, at the initiative of either by 2022, Faurecia could hold the entire share
capital of Parrot Automotive
Source text for Eikon: ID:nNDL8RksFq
Further company coverage: PARRO.PA
($1 = 0.9334 euros)
(Gdynia Newsroom)
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