Nissin Kogyo

Veoneer to Divest Japan and China Operations of Brake System Joint Venture

Retrieved on: 
Wednesday, October 30, 2019
Brakes, Honda, Nissin Kogyo, Automotive industry, Veoneer, Economy of Japan, Motor vehicles

Upon the completion of the transactions under the Definitive Agreements, the VNBS joint venture will be terminated.

Key Points: 
  • Upon the completion of the transactions under the Definitive Agreements, the VNBS joint venture will be terminated.
  • This is the next step in the strategic review of Veoneer's brake systems business first announced in early 2019.
  • On June 17, 2019, Veoneer announced that it had signed a binding agreement to acquire Nissin Kogyo's interests in the US operations of VNBS.
  • The transaction closed on June 28, 2019, after which Veoneer owns 100% of such US operations.

Veoneer to Divest Japan and China Operations of Brake System Joint Venture

Retrieved on: 
Wednesday, October 30, 2019
Brakes, Honda, Nissin Kogyo, Automotive industry, Veoneer, Economy of Japan, Motor vehicles

Upon the completion of the transactions under the Definitive Agreements, the VNBS joint venture will be terminated.

Key Points: 
  • Upon the completion of the transactions under the Definitive Agreements, the VNBS joint venture will be terminated.
  • This is the next step in the strategic review of Veoneer's brake systems business first announced in early 2019.
  • On June 17, 2019, Veoneer announced that it had signed a binding agreement to acquire Nissin Kogyo's interests in the US operations of VNBS.
  • The transaction closed on June 28, 2019, after which Veoneer owns 100% of such US operations.

Veoneer Acquires Nissin Kogyo's Interests in US VNBS Operations

Retrieved on: 
Monday, June 17, 2019
Brakes, Honda, Nissin Kogyo, Strategic alliances, Automotive industry, Joint venture, Nisshin, Companies, Economy of Japan

Under the agreement Veoneer will acquire Nissin Kogyo's interests in the US operations of VNBS, referred to as VNBA, for one US dollar, and VNBS will transfer or license the VNBS technologies necessary to operate the VNBA business to VNBA.

Key Points: 
  • Under the agreement Veoneer will acquire Nissin Kogyo's interests in the US operations of VNBS, referred to as VNBA, for one US dollar, and VNBS will transfer or license the VNBS technologies necessary to operate the VNBA business to VNBA.
  • The US operations of VNBS, including the transferred or licensed technologies, will thus become a wholly-owned Veoneer business.
  • The VNBS operations in Japan and China will remain a part of the joint venture, with Veoneer owning 51% and Nissin Kogyo owning 49% of the joint venture.
  • Under the agreement, Nissin Kogyo will either provide guarantees for certain VNBS commercial loans, or contribute capital to VNBS, in either case corresponding to 49% of the funding Veoneer has previously unilaterally provided VNBS.

Veoneer Acquires Nissin Kogyo's Interests in US VNBS Operations

Retrieved on: 
Monday, June 17, 2019
Brakes, Honda, Nissin Kogyo, Strategic alliances, Automotive industry, Joint venture, Nisshin, Companies, Economy of Japan

Under the agreement Veoneer will acquire Nissin Kogyo's interests in the US operations of VNBS, referred to as VNBA, for one US dollar, and VNBS will transfer or license the VNBS technologies necessary to operate the VNBA business to VNBA.

Key Points: 
  • Under the agreement Veoneer will acquire Nissin Kogyo's interests in the US operations of VNBS, referred to as VNBA, for one US dollar, and VNBS will transfer or license the VNBS technologies necessary to operate the VNBA business to VNBA.
  • The US operations of VNBS, including the transferred or licensed technologies, will thus become a wholly-owned Veoneer business.
  • The VNBS operations in Japan and China will remain a part of the joint venture, with Veoneer owning 51% and Nissin Kogyo owning 49% of the joint venture.
  • Under the agreement, Nissin Kogyo will either provide guarantees for certain VNBS commercial loans, or contribute capital to VNBS, in either case corresponding to 49% of the funding Veoneer has previously unilaterally provided VNBS.