Yanfeng Automotive Trim Systems to acquire the remaining 49.99% stake in Yanfeng Adient Seating from Adient for $1.5bn.

Yanfeng Automotive Trim Systems, a manufacturer of automotive interiors, agreed to acquire the remaining 49.99% stake in Yanfeng Adient Seating, its joint venture with Adient, a provider of automotive seating, for $1.5bn. "These pending transactions offer Adient an opportunity to drive our China strategy independently and further position the company for future growth in the world's largest automotive market. In addition, proceeds from the transactions will provide immediate value to Adient's stakeholders," Doug Del Grosso, Adient President and CEO.