Osram: Valeo to Buy Osram's Stake in JV Valeo Sylvania
18 6월 2013 - 4:31PM
Dow Jones News
By Friedrich Geiger
FRANKFURT--Siemens AG's (SI) lighting subsidiary Osram said
Tuesday it has entered an agreement with Valeo SA (FR.FR) which
allows the French automotive supplier to buy Osram's stake in their
North American joint venture Valeo Sylvania.
The two companies struck a put and call option agreement,
according to which Valeo can acquire Osram's 50% stake in early
2014, said the German lighting company. Financial details of the
agreement weren't disclosed.
Valeo Sylvania has more than 1,000 employees, according to the
joint venture's website.
Siemens plans to spin off Osram in July, distributing free
shares to its shareholders.
Write to Friedrich Geiger at friedrich.geiger@dowjones.com
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