Brief: Valeo launches tender offer on shares of Ichikoh

Ichikoh Industries

22/11/2016 07:31

Nov 22 (Reuters) - Valeo  VLOF.PA  
    * Valeo announces the launch of tender offer on the shares of Ichikoh  7244.T   
    * As part of the public offering, a price of 408 yen ($3.67) per share will be offered to 
shareholders of Ichikoh 
    * Offer on Ichikoh starts on Nov. 24 2016 and ends on Jan. 12 2017 
    * Offer in order to take control of Ichikoh; Valeo detains today 31.58 percent of capital of 
Ichikoh 
    * Profitability of Ichikoh is inferior to that of Valeo and will have a short-term negative 
effect on group's operating margin 
    * Consolidation of Ichikoh in Valeo's accounts will have a small accretive effect on group's 
earnings per share 
 
Source text for Eikon:  ID:nGNE5XtFKg  
Further company coverage:  VLOF.PA  
 
($1 = 111.0300 yen) 
 
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