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.

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

Read More Articles On

2017-01-11
An ultralight door architecture nets a 42.5% weight savings compared to a current production door, and that's enough to put this lightweight concept, developed via collaboration, in an enviable position.
2016-11-28
If there’s any doubt that connectivity is the next wave for advanced features and functions, it should dissipate after CES 2017. A multitude of advances in over the air updates and security will be shown in Las Vegas in January, setting the stage for much of the auto industry’s technology rollouts throughout the year.
2016-11-28
Human-machine interfaces are changing rapidly and consolidating as radio head units handle more functions and connect to diverse systems inside and outside the vehicle.
2017-01-03
Development of advanced automotive technologies is increasingly being driven by suppliers, rather than OEMs. And megadeals worth at least $500 million that are behind a growing number of next-gen technologies may reach the highest level since before the Great Recession. That’s the view from Las Vegas, as the 2017 CES (formerly the Consumer Electronics Show) opens to over 160,000 attendees.

Related Items

Technical Paper / Journal Article
2010-10-25