Valeo acquires Osram's stake in North American joint venture  [ USA ]

In line with the agreement communicated in June 2013, Osram GmbH has exercised its put option to sell to Valeo its entire stake in their North American joint venture, Valeo Sylvania LLC, for a price of USD 104 million. Following the sale, Valeo will own 100% of Valeo Sylvania shares. The transaction is expected to close by the end of January 2014. (From a press release on January 6, 2014)