Valeo takes control of two Japanese subsidiaries

Newswire

PARIS, March 24 (Reuters) - French car equipment maker Valeo said on Thursday it will take full control of two Japanese subsidiaries after buying out joint venture partner Bosch Automotive Systems Corp for 103.5 milion euros ($135.1 million) in cash. Valeo is buying the shares held by Bosch Automotive Systems in Zexel Valeo Climate Control Corporation and in Valeo Zexel China Climate Control, representing respectively 50 percent and 40 percent of the share capital and voting rights. The ...

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