Yanfeng Automotive Trim Systems

Adient closed the sale of its 30% ownership stake in Yanfeng Global Automotive Interior Systems (YFAI) to joint venture partner Yanfeng Automotive Trim Systems for US$309 million in cash, plus up to US$60 million deferred. The term of the YFAS joint venture was extended to 2038.

Adient and Yanfeng will extend the term of their Yanfeng Adient Seating joint venture in Shanghai to December 31, 2038.

Adient will sell its 30 percent ownership stake in Yanfeng Automotive Interiors to Yanfeng for $379 million, as part of a restructuring of their joint venture relationships.

Adient has agreed to sell its 30 percent ownership stake in Yanfeng Global Automotive Interior Systems (YFAI) to Yanfeng for $379 million, and sell patents for $20 million, while extending the YFAS joint venture to 2038.