Veoneer completes divestiture of Japan and China operations of Brake system joint venture
Stockholm, Sweden, February 3, 2020 – Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), the world’s largest pure-play company focused on Advanced Driving Assistance Systems and Automated Driving, has completed the sale of its 51% ownership in the Japanese (VNBJ) and Chinese (VNBZ) entities that comprise Veoneer Nissin Brake Systems (VNBS) to its joint venture partner Nissin-Kogyo Co., Ltd. and Honda Motor Co., Ltd.On October 30, 2019, the parties first announced the execution of definitive agreements related to the divestiture of VNBJ and VNBZ. The aggregate purchase price is approximately $176