Operator

Good morning, ladies and gentlemen. First of all, thank you for joining us after we have broadly talked on Friday. However, we have accomplished results over the weekend that I think I really want to share with you. And so I'm very happy to report that we have signed an agreement to sell our Interiors business to Apollo. So we signed the deal on the expected terms that we have communicated in spite of a challenging environment through the Middle East crisis. So we can attain out of that transaction an enterprise value at EUR 1.82 billion and the anticipated net debt reduction of at least EUR 1 billion.

Olivier Durand, our CFO, is with me, and he's going to share some further financial details in just a second. The project is obviously subject to works council consultations that we have started this morning and then also the customary regulatory approvals. I'm convinced that this project is possible because it reflects on the strength and the leadership of FORVIA Interiors as well as the expertise and the commitment of our global interiors teams.

So it highlights the business group's very solid industrial base, its market positioning and the good value creation potential that the acquirer sees in FORVIA Interiors. So it goes without saying that this is a key milestone in the execution of our IGNITE strategic road map that we discussed during the Capital Market Day on February 24. It is, in fact, sharpening FORVIA's focus on high value-add technology-driven activities. And as well, we strengthened