Clarion acquisition: Success of the tender offer
SUCCESS OF THE FAURECIA TENDER OFFER FOR CLARION
Faurecia, one of the world’s leading automotive technology companies, today announced the success of the tender offer launched for Clarion, on January 30, 2019.
Clarion shareholders tendered 95.28% of their Clarion shares to Faurecia’s offer. In accordance with the agreement signed on October 26, 2018, Hitachi tendered all of its shares, representing 63.8% of the share capital of Clarion. The settlement of the acquisition will take place on March 7, 2019. Faurecia will then implement the relevant squeeze-out procedure to acquire all the remaining shares of Clarion.
With this strategic and complementary acquisition in terms of technology offer, geographic presence and customer portfolio, Faurecia will become a leading company in cockpit electronics and systems integration.
On April 1st, Faurecia will create a new Business Group headquartered in Japan, named “Faurecia Clarion Electronics” regrouping Clarion, Parrot Faurecia Automotive and Coagent Electronics. This Business Group will employ almost 9,200 people and more than 1,650 software engineers, and it will generate over €2 billion of sales by 2022.