The group intends to acquire FTE automotive, a German manufacturer of clutch and gear actuators with large activities in Brazil. The company generates turnover of around €500m and an EBITDA margin of some 20%, i.e. it is disproportionately profitable. The deal needs European and Brazilian anti-trust approval and this is expected to be given by the end of 2016.
03 Jun 2016
Valeo makes an expensive acquisition
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Valeo makes an expensive acquisition
The group intends to acquire FTE automotive, a German manufacturer of clutch and gear actuators with large activities in Brazil. The company generates turnover of around €500m and an EBITDA margin of some 20%, i.e. it is disproportionately profitable. The deal needs European and Brazilian anti-trust approval and this is expected to be given by the end of 2016.