Global law firm White & Case LLP has advised Faurecia, part of the FORVIA Group and one of the world's largest automotive equipment suppliers, on the sale of its SAS Cockpit Modules division, a global provider of assembly and logistics services for the automotive industry, to automotive supplier MOTHERSON Group.
The transaction is based on an SAS enterprise value of €540 million and will complement MOTHERSON's Modules and Polymer Products portfolios. The sale would allow FORVIA to focus on its core business activities, developing breakthrough technologies.
Headquartered in Karlsruhe, Germany, SAS was established in 1996, generated a total net sales of €896 million in the calendar year 2022 and has more than 5,000 employees in over 24 locations in Europe, Asia and America.
The transaction is subject to employee consultation processes as well as customary regulatory approvals and expected to close mid-2023.
White & Case previously advised FORVIA on the launch of its tender offer for HELLA and €700 million sustainability-linked bond in November 2022.
The White & Case team which advised on the transaction was led by partners Tobias Heinrich (Frankfurt) and Hugues Mathez (Paris), and included partners Ingrid Wijnmalen, Bodo Bender (both Frankfurt), Alexandre Jaurett, Jean Paszkudzki, Orion Berg (all Paris), Jeremie Jourdan (Brussels, Paris), Tal Marnin, Scott Fryman (New York) and Keith Schomig (Washington, DC), local partners Johannes Goossens, Mathias Bogusch, Alexander Lang, Jochen Hoerth (all Frankfurt) and Thilo-Maximilian Wienke (Dusseldorf) and associates Thorsten Rohde, Miriam Staatz, Benedikt Happ (all Frankfurt), Naari Ha, Tim Sensenig (both Washington, DC), Cecilia Grosjean (Paris), and Iakovos Sarmas (Brussels).
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