Visteon Nets $1.25B In Exit From Chinese Auto Interior JV

Law360, New York (August 13, 2013, 1:33 PM EDT) -- Auto parts supplier Visteon Corp. will sell its 50 percent stake in a Chinese joint venture to its partner and unload its interests in other units in a $1.25 billion deal as it focuses on its core electronics business, the company said Tuesday.

In the deal, Huayu Automotive Systems Co. Ltd. will take over Visteon's half of Yanfeng Visteon Automotive Trim Systems Co. Ltd., a Shanghai-based manufacturer that specializes in automotive interiors and seating that last year posted revenues of $7.2 billion. The Chinese firm, majority-owned...
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