Visteon to sell stake in Chinese JV to Huayu Automotive; to gain control of JV’s electronics business
Company to use net proceeds from transactions to repurchase shares
Visteon has entered into an agreement to sell its 50% stake in the Chinese joint-venture (JV) Yanfeng Visteon Automotive Trim Systems Co., Ltd. (YFV) to JV partner Huayu Automotive Systems Co., Ltd (HASCO), the company said in a press release.
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