Parrot Automotive and Faurecia Form Partnership

Skadden is advising Parrot in connection with the implementation of a strategic and capital partnership between Faurecia and its subsidiary Parrot Automotive. The transaction includes a share capital increase of €27.3 million for Parrot Automotive and a bonds issuance of €41 million for Parrot, based on an enterprise value for Parrot Automotive of €100 million.