Adient modifies Yanfeng JV deal

Automotive seating supplier Adient has amended its previously announced agreement with Yanfeng Automotive Trim Systems to make certain changes to their existing joint venture relationships.

As part of the transactions contemplated by the agreement entered into at the end of January, Adient agreed to sell its 30% ownership stake in Yanfeng Global Automotive Interior Systems to Yanfeng for US$379m.

In connection with obtaining certain required regulatory consents, Adient and Yanfeng have now agreed to certain modifications to the transactions.

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Posted by Geoff Fisher on 3 July 2020

 

 

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