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VLEEY Valeo SE (PK)

5.2692
0.0992 (1.92%)
Last Updated: 17:56:39
Delayed by 15 minutes
Name Symbol Market Type
Valeo SE (PK) USOTC:VLEEY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.0992 1.92% 5.2692 5.19 5.27 5.27 5.1601 5.1601 18,870 17:56:39

Osram: Valeo to Buy Osram's Stake in JV Valeo Sylvania

18/06/2013 8:31am

Dow Jones News


Valeo (PK) (USOTC:VLEEY)
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By Friedrich Geiger

FRANKFURT--Siemens AG's (SI) lighting subsidiary Osram said Tuesday it has entered an agreement with Valeo SA (FR.FR) which allows the French automotive supplier to buy Osram's stake in their North American joint venture Valeo Sylvania.

The two companies struck a put and call option agreement, according to which Valeo can acquire Osram's 50% stake in early 2014, said the German lighting company. Financial details of the agreement weren't disclosed.

Valeo Sylvania has more than 1,000 employees, according to the joint venture's website.

Siemens plans to spin off Osram in July, distributing free shares to its shareholders.

Write to Friedrich Geiger at friedrich.geiger@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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