Faurecia : Accelerated transformation comes at a price
>Faurecia in surprise acquisition of Hella - Although it was not tipped as the favourite (vs POM and Mahle), Faurecia surprised the market with the announcement it has reached an agreement with the family pool accounting for 60% of Hella's shareholders. This agreement sets the stage for a 100% acquisition of the German auto supplier through a takeover for the remaining 40% based on a valuation of close to € 7bn, or € 60 per share, in line with our estimates (an except...Faurecia is an automobile equipment supplier based in France. Co.'s activities can be divided into four business units: Automotive Seating (design of vehicle seats, manufacture of seating frames and adjustment mechanisms, and assembly of complete seating units); Emissions Control Technologies (design and manufacture of exhaust systems); Interior Systems (design and manufacture of instrument panels, door panels and modules, and acoustic components); and Automotive Exteriors (design and manufacture of front ends and safety modules). Some of Co.'s customers are PSA Peugeot Citroen, VW Group, Renault-Nissan, Ford Group, BMW and GM Group.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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