First Sensor plans to sell its subsidiaries in USA and France to TE Connectivity
Berlin-based First Sensor says it is planning to sell its US-based subsidiary in California, as well as its unit in Paris, France to TE Connectivity.
First Sensor intends to enter into agreements with TE Connectivity MOG Inc., for the sale of its US subsidiary, and with MEAS Europe SAS, for the sale of its wholly owned subsidiary in Paris, France. TE MOG and MEAS are subsidiaries of TE Connectivity Ltd, and the total purchase price amounts to EUR 40.3 million, a press release reads. The sales are intended to leverage synergies within the framework of the integration within the TE Connectivity group. It is planned to complete the sales in September 2020 and following the completion of the sale, the supply relationships will remain in place