Apollo Buys Forvia’s Auto Interiors Unit for €1.82 Billion (1)

Apollo Global Management Inc. agreed to buy Forvia SE’s auto interiors business for an enterprise value of €1.82 billion ($2.1 billion), helping the French supplier cut debt and streamline its business.

The carve-out transaction, which is subject to closing conditions including regulatory approvals, is expected to be completed in the second half of this year, Apollo said Monday in a statement on its website. Bloomberg reported last week that the asset manager was close to a deal for the business.

Forvia shares climbed as much as 4.2% in early trading in Paris. The stock is down about 23% this ...