PARIS — Valeo has announced the signing of an agreement with RHJ International SA and Nissan to acquire Niles, a Japanese automotive supplier.
Valeo says the deal, valued at approximately $441 million, would reinforce the company’s Comfort and Driving Assistance Systems Business Group. With this acquisition, Valeo would strengthen its position in Asia (Japan, China, Thailand) and with Japanese automakers, particularly Nissan, meeting one of the group’s strategic goals as presented to shareholders in 2010.
Valeo added that the group would thus become world leader in the “automotive Human-Machine Interface market” if the deal is completed. The transaction is subject to customary closing conditions.