Valeo has launched a takeover bid for the shares of Japanese company, Ichikoh, following its acquisition of an initial stake in 2007 and its current 31.58% capital retention.

The transaction is subject to the approval of the relevant anti-trust authorities.

"Since Valeo's purchase of a minority stake in Ichikoh in 2000, the two lighting specialists have developed a successful alliance," said a Valeo statement. "Today the industry is undergoing technological transformations, such as the popularisation of LED technology and the emergence of many LED-enabled features.

"These trends have encouraged Valeo and Ichikoh to strengthen their ties in order to provide a better product offering to Japanese customers. In early 2014, Valeo had taken a major strategic step in expanding its overall automotive lighting systems offering with the acquisition of Osram's 50% stake in the Valeo-Sylvania joint venture.

"The Ichikoh takeover bid represents another key step in the development of the Valeo-Ichikoh duo's lighting business, providing Valeo with an excellent manufacturing footprint in Asia, mainly in Japan, but also in Thailand, Malaysia and Indonesia."

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