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Visteon to sell stake in China JV for $1.2B; ups buyback to $1B

  • Visteon (VC) agrees to sell its 50% holding in Chinese joint venture Yanfeng Visteon Automotive Trim to partner Huayu Automotive for $1.2B. The deal includes Visteon's direct interests in other related JVs.
  • Separately, Visteon will acquire majority control of the Yanfeng JV's automotive electronics unit for $300M.
  • "These transactions support our focus on our core climate and electronics businesses," Visteon says.
  • The U.S. automotive parts supplier also increases its stock buyback program by $875M to $1B. (PR)
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Comments (1)
  • DeepValueLover
    , contributor
    Comments (8690) | Send Message
     
    If you haven't examined the VC warrants (VSTOW) then you've missed a massive gain in 2013.

     

    Take a look when you get a chance.
    13 Aug 2013, 12:07 PM Reply Like
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