Valeo announces sale of Russian thermal systems business to NPK Avtopribor ...Middle East

A logo of French automotive supplier Valeo is seen in Paris, France, February 20, 2023. REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing Rights Oct 31 (Reuters) – French car parts maker Valeo (VLOF.PA) said on Tuesday it had signed an agreement to sell its thermal systems production assets in Russia to NPK Avtopribor for an undisclosed sum. Valeo said in a statement the sale would not incur any capital gain or loss and the transaction’s completion was subject to regulatory approvals. This will “enable the 123 Russian employees in this business to keep their jobs,” the company added. Valeo will also have a buyback option for 10 years, which can be activated from the sixth year

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