April 23 (Reuters) - Private equity firm Apollo is nearing a deal to acquire the auto interiors business of France's Forvia, Bloomberg News reported on Thursday, citing people familiar with the matter
Apollo Close to $1.6B Acquisition of Forvia’s Auto Interiors Business
Details of the Potential Acquisition
April 23 (Reuters) - Private equity firm Apollo is nearing a deal to acquire the auto interiors business of France's Forvia, Bloomberg News reported on Thursday, citing people familiar with the matter.
Valuation and Scope of the Deal
The deal would value the interiors business, which supplies full instrument panel, door panel and centre console systems for cars, at about 1.4 billion euros ($1.64 billion), the report said.
Verification and Responses
Reuters could not immediately verify the report. Apollo Global Management and Forvia did not immediately respond to Reuters' requests for comment.
Background on Forvia’s Strategy
The Paris-based car parts supplier said last year it was looking to divest the car interiors business as part of a debt-cutting push.
Forvia’s Clientele and Market Outlook
Forvia, which supplies parts to Stellantis, Volkswagen and Ford, had said in February it expects sales to decline in 2026.
Market Capitalization and Financial Data
The company has a market capitalization of 2.2 billion euros ($2.58 billion), according to LSEG data.
($1 = 0.8543 euros)
(Reporting by Ananya Palyekar in Bengaluru; Editing by Mrigank Dhaniwala)
