UPDATE 1-Valeo agrees with Pardus on board representation

Newswire

(adds details) PARIS, May 22 (Reuters) - French car parts maker Valeo said on Thursday it agreed to propose the appointment of a representative of major shareholder Pardus Capital Management at its supervisory board. Pardus, which owns almost 20 percent of Valeo, agreed in return not to raise its stake in the company beyond 20 percent of the capital and voting rights, Valeo said in a statement. "The board of directors has decided to propose the appointment of Behdad Alizadeh to stand ...

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