Apollo Nears $1.6 Billion Deal for Auto Interiors Business of France's Forvia, Bloomberg News Reports

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)