Valeo's biggest investor is selling out.

Automotive News Europe,  May, 2002  by De Saint-Seine, Sylviane

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Valeo's main shareholder is selling most of its 20 percent stake in the French supplier.

Investor holding company CGIP said that it would sell its stake either through the immediate sale of shares or by offering bonds convertible into Valeo shares in May 2005.

"It's never encouraging to see a company's leading shareholder, which has access to prime information, sell its stake," said an analyst at an investment bank in London who declined to be named.

"I don't doubt Valeo's ability to boost its sales and operating profit margins, but I doubt it will succeed ...

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