FORVIA closes sale of “SAS” Cockpit Modules division to the MOTHERSON group
FORVIA, the world’s 7th-largest automotive technology supplier, has successfully completed the sale of “SAS” Cockpit Modules division (“SAS”) to the MOTHERSON Group on July 31st, 2023.
MOTHERSON Group acquired 100% of “SAS” Cockpit Modules division (“SAS”), a global provider of assembly and logistics services for the automotive industry, based on an enterprise value of €540 million. MOTHERSON is a diversified manufacturing specialist and one of the world’s leading automotive Group. The transaction would complement its Modules and Polymer Products portfolio.
This transaction contributes to FORVIA’s €1bn asset disposal program by the end of 2023. These disposals of non-strategic assets are set to reduce FORVIA net debt, its top priority following the acquisition of a majority stake in HELLA at the end of January 2022.