December 19 (SeeNews) - Croatian plastic products manufacturer AD Plastik [ZSE:ADPL-R-A] said on Monday it has signed a sales and purchase deal with France's Faurecia Automotive Holdings for the 40% share AD Plastik holds in trading company Faurecia ADP Holding.
Faurecia ADP Holding is a 100% owner of Faurecia ADP based in Luga, Russia.
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AD Plastik is selling a total of 278,136 shares in Faurecia ADP Holding to Faurecia Automotive Holdings, it said in a Zagreb bourse filing.
The price of the transaction was not disclosed.
Via the transaction Faurecia Automotive Holdings is now the sole owner of both Faurecia ADP Holding and Faurecia ADP.
The sale of shares will not change AD Plastik's results nor plans on the Russian market, it added.
AD Plastik and Faurecia Automotive Holdings still jointly own Euro Auto Plastic Systems company in Romania.
Faurecia has 330 sites including 30 R&D centers in 34 countries around the world, and is a global leader in its three areas of business: automotive seating, interior systems and emissions control technologies.