Faurecia is reportedly considering the sale of its bumper business – The Nanterre – according to reports.
The company is working with Citigroup for the sale, which may fetch up to US$450m, Bloomberg reported citing people with knowledge of the matter.
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The French parts manufacturer is currently in talks with automotive suppliers and private-equity firms for a potential deal, the report said.
The sale of The Nanterre would free some resources, which could be used for the company’s expansion plans in Asia, the report added.
Meanwhile, Faurecia plans to set up an average of seven plants in China every year, as it aims to more than double its revenue from the country by 2018.
Bloomberg said that Faurecia refused to comment.
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By GlobalDataThe automotive supplier sector is seeing an upturn in restructuring, consolidation and M&A activity as companies reposition for a wave of growth in advanced automotive technologies led by tougher fuel efficiency targets as well as innovations in connectivity and active safety.
