Apollo Global Management LLC (APO.US) has agreed to purchase the automotive interiors business of Forvia SE for 1.82 billion euros (approximately $2.1 billion), according to an announcement made on Monday. Notably, a report last week indicated that the private equity giant was considering a valuation of around 1.4 billion euros (roughly $1.6 billion) for the division, based on information from knowledgeable sources. In a statement on its official website, Apollo noted that the transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be finalized in the second half of this year. Forvia Group was formed in 2022 through the merger of Faurecia SE and Hella GmbH and operates as an automotive technology supplier, with activities spanning autonomous driving systems, energy management, and other technical domains. The interiors business being sold primarily manufactures components such as door panels and center consoles. The divestiture is part of Forvia's "Ignite" strategy, which aims to streamline its operational structure and accelerate growth. Data shows that over the past 12 months, Forvia's shares traded in Paris have surged more than 50%, elevating the French company's market capitalization to approximately 2 billion euros.
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