Visteon shifts emphasis to electronics in twin China transactions

  • 13-Aug-2013 08:25 EDT

In a move to strengthen its hand in vehicle climate control and electronics, Visteon on Aug. 13 announced it has agreed to sell its 50% stake in a interior systems joint venture with a Chinese supplier and to increase its stake in an electronics joint joint venture with the same company. The JV partner in question is Huayu Automotive Systems Co., Ltd., (HASCO), with whom it has an interiors JV called Yanfeng Visteon Automotive Trim Systems Co., Ltd. That deal also includes the sale to HASCO of direct interests in other related interiors joint ventures. In the electronics deal, Visteon will obtain control of the majority of Yanfeng Visteon Automotive Electronics Co., Ltd. (YFVE). The collective transactions are valued at approximately $1.5 billion, with Visteon receiving $1.2 billion for the portfolio of non-electronics operations. Visteon's stake in YFVE will be valued at approximately $300 million. Subject to customary government and regulatory approvals, the transactions are expected to be completed in multiple stages and substantially completed by June 2015. Visteon expects to receive 90% of the proceeds at or near initial closing.

HTML for Linking to Page
Page URL
Rate It
4.00 Avg. Rating

Read More Articles On

A power swivel seat and a shape-shifting instrument panel are transformative technologies being developed for autonomous vehicle interior environments.

Related Items

Technical Paper / Journal Article
Technical Paper / Journal Article
Training / Education
Technical Paper / Journal Article