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First Sensor AG Plans Sale of Subsidiaries in USA, France to TE Connectivity
September 15, 2020 | First SensorEstimated reading time: Less than a minute
First Sensor AG intends to enter into agreements with TE Connectivity MOG Inc., domiciled in Wilmington, DE, USA, for the sale of its wholly owned subsidiary First Sensor, Inc., domiciled in Westlake Village, CA, USA, and with MEAS Europe SAS, domiciled in Toulouse, France, for the sale of its wholly owned subsidiary First Sensor France SAS, domiciled in Paris, France. TE MOG and MEAS are subsidiaries of TE Connectivity Ltd.
The total purchase price amounts to EUR 40.3 million. The sales are intended to leverage synergies within the framework of the integration within the TE Connectivity group. The supply relationships will remain in place. It is planned to complete the sales in September 2020.
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