Valeo welcomes Bpifrance as a shareholder
Paris, April 29, 2019 – Valeo has been informed that Bpifrance’s stake in the Group’s share capital has crossed the threshold of 5%, following its acquisition of shares on the open market.
Valeo is pleased to welcome back Bpifrance as a long-term shareholder that is keen to accompany the Group in implementing its strategy. Bpifrance’s investment attests to its confidence in Valeo’s strategy and growth potential, and will help strengthen the Group’s positioning as a major player in the three technological revolutions reshaping the automotive industry: electrification, autonomous vehicles, and digital mobility.
In this context, Valeo’s Board of Directors will be supporting the appointment in the coming weeks of a Bpifrance representative, chosen jointly with Valeo, to sit on the Board.
Jacques Aschenbroich, Chairman and Chief Executive Officer, commented: “We are delighted to welcome back Bpifrance as a long-term institutional shareholder, set to accompany the Group in its development. Bpifrance’s renewed stake in Valeo’s share capital sends a strong signal about the solidity of our strategy, which is focused on delivering innovative products in a fast-changing automotive market.”
