French sovereign wealth fund takes Valeo stake

France’s sovereign wealth fund on Wednesday announced it had taken a stake in French auto parts group Valeo, a firm that has been targeted by a New York investment group pushing for a merger. The FSI said it’s taken an 8.3% stake in Valeo and has 10.55% of the voting rights. New York-based Pardus Capital Management, Valeo’s top shareholder, has suggested the French firm merge with Visteon a rival auto parts maker in which Pardus also is the leading shareholder.

read more: MarketWatch

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