Sale of First Sensor Mobility to TE Connectivity planned
First Sensor says it intends to enter into an agreement with Tyco Electronics Germany Holdings GmbH, a subsidiary of TE Connectivity Ltd. based in Bensheim, Germany, to sell its wholly owned subsidiary First Sensor Mobility GmbH based in Dresden, Germany.
TE Connectivity Sensors Germany Holding AG, which holds 71.92% of the shares in First Sensor AG, is also a wholly owned subsidiary of TE Connectivity Ltd. The purchase price for First Sensor Mobility GmbH amounts to USD 33.34 million. The sale is part of the integration of First Sensor into the TE Connectivity Group and serves to bundle all automotive sensor units within the TE Group and to strengthen them by leveraging synergies. The supply relationships between First Sensor AG and First Sensor Mobility GmbH will remain in place. The sale is to take place with effect at the latest by 30 September 2021.