French car-parts maker, Faurecia, is planning to acquire EMCON Technologies for $435.8 million in an all-share deal, The Wall Street Journal reports. It will be purchasing the U.S. exhaust systems maker for 20.9 million new shares. PSA Peugeot-Citroën’s 70.85% stake in Faurecia will be reduced to 57.4%.

One Equity Partners, an investment fund of JPMorgan Chase and EMCON’s shareholder, will hold a 19% stake and be represented with two seats on Faurecia’s board of directors and one seat on the its strategic committee. The deal is not likely to have an effect on its cash and debt situation, as Faurecia will take on only $103.6 million of EMCON’s debt.

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