Valeo Buys Japanese Auto-Parts Maker Niles for $190 Million

Valeo SA, France’s second-largest auto-parts supplier, agreed to buy Japan’s Niles Co. to boost its presence in Asia.

Valeo will buy 77.9 percent of Niles, whose customers include Nissan Motors Co. and General Motors Co., from RHJ International SA, for 15.5 billion yen ($190 million). The transaction is expected to be completed in the first half of this year, the company said today in a statement.