Parrot SA

Faurecia and Parrot finalized a proposal for Faurecia to take over 100% of Parrot Automotive, based on an enterprise value of €100 million. The transaction is expected to close in Q3 2018.

Faurecia finalised the acquisition of a 20% interest in Parrot Automotive SAS through a reserved capital increase for EUR 27.3 million, with an enterprise value of EUR 100 million for Parrot Automotive. Faurecia will also subscribe to convertible bonds for EUR 41 million.

Parrot has entered exclusive discussions with Faurecia for a partnership where Faurecia would acquire a 20% stake in Parrot Automotive, with an option to buy the remainder by 2022.