Valeo in Negotiation of €250 Million Club Deal Financing for Acquisition of Niles

July 14, 2011

Cleary Gottlieb assisted Valeo in the negotiation and implementation of a €250 million club deal financing for the acquisition of Japanese company Niles, a leading manufacturer of automotive switching systems, from RHJ International and Nissan.

The €250 million credit agreement has been entered into with The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizhuo Corporate Bank, Ltd., and Credit Mutuel – Credit Industriel et Commercial as Mandated Lead Arrangers, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Mizhuo Corporate Bank, Ltd., as Bookrunners, and Mizhuo Corporate Bank, Ltd., as Agent.

Following the acquisition of Niles, Valeo became the worldwide leader in the interior control market.

Valeo is an independent industrial group fully focused on the design, production and sale of components, integrated systems and modules for the automotive industry, mainly for the reduction of CO2 emissions. Valeo ranks among the world’s top automotive suppliers. The group has 109 plants, 20 research centers, 38 development centers and 10 distribution platforms and employs around 60,900 people in 27 countries worldwide.