M&A

M&A

Varroc sells lighting unit in US and Europe for 600-M Euros

BSE Disclosure  

Publicly-listed automobile component company Varroc Engineering Limited (VEL) is to divest its 4-wheeler lighting systems operations in the Americas and Europe to Compagnie Plastic Omnium SE of France. The Euro 600 million transaction will see Varroc divesting its lighting System operations in the USA, Brazil, Mexico, Poland, Czech Republic, Germany, Turkey, and Morocco. Rothschild & Co acted as the exclusive financial advisor to VEL on the transaction. Varroc is retaining its 4-wheeler lighting operations in Asia. It will also continue to operate its China JV and other international 2-wheeler businesses in countries like Italy and Vietnam and global electronics businesses in Poland and Romania.