Valeo mulls hydraulics sale to push through FTE deal
July 13, 2017
Industrial Supplies and Parts | Paris, France | Corporate Acquisition
Automotive parts supplier Valeo is considering the sale of its passive hydraulic actuator business to Raicam in order to win European Commission approval for its proposed acquisition of FTE. The unit generated €76 million in turnover in 2016, and employs more than 400 people in Italy, Turkey and China. Valeo agreed to acquire FTE in June 2016 for €819.3 million from Bain Capital—however the deal was postponed in December over the Commission's concerns.