Faurecia announced that it had reached binding agreements with Clarion and Hitachi, the controlling shareholder owning 63.8% of Clarion, a major Japanese supplier of in-vehicle-infotainment and full digital audio systems, HMI and advanced driver assistance systems, connectivity and cloud- based services, for a tender offer to acquire 100% of the shares of Clarion. The deal value is €1.1bn, representing a transaction multiple of 5.7 times March 2018 EBITDA including run-rate synergies estimated at €90m by 2022. This project has received the support of both the Hitachi and Clarion Boards of Directors. Closing of the transaction is expected during the first quarter 2019.