Faurecia explores sale of bumpers unit, report says
LONDON (Bloomberg) -- Faurecia is investigating a sale of its own fenders company, sources mentioned, as the provider seeks to release assets to finance growth in China.
Faurecia, which is 51% owned by PSA/Peugeot Citroen, is operating with Citibank on a possible disposal, based on individuals familiar with the issue, who requested to not be identified as the discussions are private.
The French provider is speaking to private equity companies in addition to automotive suppliers to estimate interest, the folks said.
The fenders unit may bring in just as much as $450 million, the folks said. The the system is a portion of small Faurecia section that makes components for auto outsides.
The firm, which has contemplated a deal for a while, may determine against a sale or challenge to locate a buyer prepared to cover a satisfactory price, they stated.
Kate Philipps, a spokeswoman for Faurecia, declined to remark.
Spilling the fenders component could assist Faurecia release assets as it grows in Asia. The provider intends to start an average of seven crops annually in China, where it is seeking to more than double its sales by 2018. Faurecia does not reveal deal for the fenders company.
The automotive outsides unit that it's a component created 2.1 billion euros ($2.3 billion) in sales last year, about 1 1% of the firm's total.
Faurecia is planned to release first half gains on Friday.
Contact Automotive News
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