Valeo Buys Osram’s Share In Valeo Sylvania
News: French automotive components manufacturer Valeo has purchased German lighting manufacturer Osram's stake in US-based automotive lighting joint venture Valeo Sylvania in a deal worth US$104mn. This price was around three times the 2014 EBITDA estimated by Valeo for the joint venture. Osram exercised its put option as per its earlier agreement that was communicated on June 18 2013. The deal is likely to be concluded by January 31 2014, after which Valeo will become the sole owner of Valeo Sylvania.