Valeo withdraws FTE merger notification to address European Commission’s concerns

Acquisition, divestment & Spinoff

French supplier hopes to close the transaction sometime in 2017

Valeo, in agreement with Bain Capital, has decided to withdraw its notification to acquire German clutch maker FTE Automotive after the European Commission raised concerns about the acquisition in its Phase 1 review, the company announced in a press release on 30 November.

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