International Automotive Components and Shanghai Shenda complete joint venture transaction forming Auria
Clients International Automotive Components Group S.A.
Jones Day advised International Automotive Components Group S.A. ("IAC") in the formation of Auria Solutions Ltd., a new global supplier of soft trim and acoustical products for the automotive industry and joint venture with Shanghai Shenda Co. Ltd. ("Shenda"). Shenda has acquired a 70 percent stake in the UK-based joint venture based on an enterprise value of $570 million. IAC retained a 30 percent interest. The joint venture's operations include substantially all of IAC’s soft trim and acoustics operations, consisting of 21 manufacturing facilities and four technical centers worldwide.