PARIS -(Dow Jones)- French car parts maker Faurecia SA (EO.FR) doesn't expect its two main shareholders, PSA Peugeot Citroen (UG.FR) and One Equity Partners, to change their stakes, its chief executive said Monday.
"As far as I see today, we have two strong holders, who will be active in strategy development, but have no intention as far as I know to buy or sell shares on the market," Yann Delabriere said.
Delabriere was speaking at a press conference following Faurecia's announcement that it is buying Michigan-based emission-control technologies group EMCON Technologies for 20.9 million new Faurecia shares, cutting Peugeot's Faurecia stake to 57.4% from 70.85%.
One Equity Partners--an investment fund of JPMorgan Chase & Co. (JPM), and current shareholder of EMCON Technologies--will hold a 19% stake and be represented with two seats at Faurecia's board of directors as well as one seat on the board's strategic committee.
Delabriere said that after the transaction, Peugeot will have five seats on Faurecia's board.
-By William Horobin, Dow Jones Newswires; +33 1 40 1740 4017; william.horobin@dowjones.com