A brand of French car parts provider Faurecia is seen close to the corporate’s headquarters in Nanterre close to Paris, France, February 7, 2022. REUTERS/Gonzalo Fuentes

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PARIS, June 22 (Reuters) – French car parts provider Faurecia (EPED.PA) stated it elevated the corporate’s share capital by round 705 million euros ($740.9 million) and can use the proceeds to fund its acquisition of German peer Hella (HLE. EN).

Faurecia had sealed its takeover of Hella in February and plans to create Forvia, more likely to be the world’s seventh-largest automotive provider.

Forvia predicted gross sales of round 23 billion-24 billion euros this 12 months, with a revenue margin of 4%-5%. learn extra

($1 = 0.9516 euros)

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Reporting by Sudip Kar-Gupta; Enhancing by Sherry Jacob-Phillips

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