Valeo has said that the process of examining the indications of interest received from investment funds has been completed "without an acceptable offer being made within the defined timeframe" and it will now "concentrate on its strategy of value creation".

"This strategy is based on innovation and the focusing of the product portfolio on the three domains of driving assistance, powertrain efficiency and comfort enhancement through targeted divestitures and acquisitions," the company said in a statement.

Valeo has objectives for 2010 of a 6% operating margin and the doubling of its return on capital. Achievement of these is dependent on more sustained organic growth from 2008, the re-engineering of the group's functions and the absorption of charges related to raw materials, the statement added.

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