Adient to End Yanfeng Joint Venture in China
Adient agreed to end its Yanfeng Adient Seating joint venture in China with partner Yanfeng Automotive Trim Systems. Adient will receive $1.5 billion.
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Adient (
ADNT) - Get Report said it agreed to end its Yanfeng Adient Seating Co. joint venture in China with venture partner Yanfeng Automotive Trim Systems. Under the terms, Adient will sell its 49.99% interest in Yanfeng Adient Seating to Yanfeng Automotive as well as its minority interest in various other joint ventures and will receive $1.5 billion. And Adient said it would acquire Yanfeng Adient Seating s half interest in Chongqing Yanfeng Adient Automotive Components Co. and Yanfeng Adient Seating s 100% equity interest in Yanfeng Adient (Langfang) Seating Co.