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EU antitrust enforcers approved Valeo's €819.3 million bid for German clutch manufacturer FTE Automotive, conditional on Valeo divesting its passive hydraulic actuator business to Italian supplier Raicam.
Valeo is considering divesting its passive hydraulic actuator business to Italian company Raicam to gain European Commission approval for its €819 million acquisition of clutch manufacturer FTE Automotive. The divestment could be finalized in Q4 2017.