(Reuters) - Private equity firm Apollo is nearing a deal to acquire the auto interiors business of ‌France's Forvia, Bloomberg News reported on Thursday, citing people familiar with the matter.

The deal would value the interiors business, which supplies full instrument ⁠panel, door panel and centre console systems for cars, at about 1.4 billion euros ($1.64 billion), the report said.

Reuters could not immediately verify the report. Apollo Global Management and Forvia did not immediately respond to Reuters' requests for ‌comment.

The ⁠Paris-based car parts supplier said last year it was looking to divest the car interiors business as part of a debt-cutting ⁠push.
Forvia, which supplies parts to Stellantis, Volkswagen and Ford, had said in February it expects ⁠sales to decline in 2026.

The company has a market capitalization of 2.2 ⁠billion euros ($2.58 billion), according to LSEG data.