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Valeo Rises on Report Hinduja May Buy a 51% Stake

Valeo SA, Europe’s third-largest maker of car parts, rose as much as 4.4 percent in Paris trading after India’s Business Standard said the Hinduja Group may acquire a controlling stake.

Valeo shares advanced as much as 1.08 euros to 25.64 euros and were 2.9 percent higher at 11:17 a.m., valuing the company at 1.98 billion euros ($3.1 billion).

Hinduja, which controls Indian truckmaker Ashok Leyland Ltd., is in talks to buy 51 percent of Valeo for about $1.5 billion, the Business Standard reported, citing an unidentified person. Valeo spokesman Antoine Balas declined to comment when contacted by Bloomberg.

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