France's Valeo to acquire German clutch maker FTE Automotive

June 2, 2016 4:42 PM

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France's Valeo to acquire German clutch maker FTE Automotive

French car parts supplier Valeo (VLOF.PA) said on Thursday it would buy German clutch manufacturer FTE Automotive for 819.3 million euros ($914 mln).

Valeo, in a statement, said it had signed an agreement to buy 100 percent of FTE from Bain Capital Private Equity, which bought the German company in 2013 for 400 million euros.

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