Apollo Nears Deal to Buy Forvia's Interior Components Unit for €1.4 Billion

Apollo Global Management Inc. is close to reaching an agreement to acquire the vehicle interior components unit of French automotive supplier Forvia SE, according to sources familiar with the matter. The deal is valued at approximately €1.4 billion. Forvia aims to strengthen its balance sheet amid challenging market conditions in the automotive sector through the sale of this unit. The company had placed the interior components division under strategic review last year and initiated discussions with potential buyers. Apollo is expected to expand its presence in the automotive industry with this acquisition. The private equity firm has previously made similar investments in automotive parts. The deal is anticipated to be finalized in the coming weeks. Forvia was formed in 2022 through the merger of Faurecia and Hella, becoming a major player in the global automotive supply sector. The company plans to allocate more resources to its core business lines following this sale. This is not investment advice.