Feb 9, 2022ACQUISITION
Siemens agrees to sell its 50% stake in Valeo Siemens eAutomotive joint venture to Valeo
Siemens AG signed an agreement to sell its 50 percent stake in the Valeo Siemens e-Automotive joint venture to Valeo. The profit impact is around 300 million Euros, and closing is expected in July 2022, subject to regulatory approvals.
Value
$340.0M (300.0M EUR)
Productse-car powertrain systemse-motorspower electronics
“Single ownership and full integration with Valeo provide very strong prospects for the business, its employees and customers.”press.siemens.com
- 4 sources
- press.siemens.comSiemens enters agreement to exit Valeo Siemens eAutomotive joint venture | Press | Company | SiemensFeb 9, 2022
- valeo.comSiemens eAutomotive 100% acquistion from ValeoFeb 9, 2022
- news.bloomberglaw.comValeo Buys Out Siemens From EV Venture for $317 Million (2)Tara Patel, William WilkesFeb 10, 2022
- batteriesnews.comSiemens Enters Agreement to Exit Valeo Siemens Eautomotive Joint Venture - Batteries NewsFeb 10, 2022
Summarized from public sources; check the original articles before acting on it.
ENDATA