Tata AutoComp, Ichikoh to acquire Valeo’s lighting biz

New Delhi: Tata AutoComp Systems Ltd on Tuesday said it will form a joint venture with Japan’s Ichikoh Industries Ltd to acquire Valeo’s lighting business in India for an undisclosed sum. Valeo’s lighting business in India will be acquired through the acquisition of the Valeo Lighting Systems (VLS) business of Valeo India Pvt Ltd, together by Tata AutoComp Systems Ltd (TACO) and Ichikoh Industries Ltd (Ichikoh), a company listed on the Tokyo Stock Exchange Prime Market and 61.2 per cent owned by Valeo, the company said in a statement. “The acquisition would be consummated through a 50:50 joint venture company (JV) to be formed between TACO and Ichikoh Industries,” it said.