Veoneer says Qualcomm deal to close next week
Reuters
Published Mar 24, 2022 04:14AM ET
STOCKHOLM (Reuters) - Swedish automotive technology group Veoneer (NYSE:VNE) said on Thursday that the deal that will see it bought by Qualcomm (NASDAQ:QCOM) Inc and SSW Partners would close on April 1.
Chipmaker Qualcomm Inc and SSW Partners, an investment firm based in New York, said in October they had reached an agreement to buy Veoneer for $4.5 billion.
Veoneer said in a statement on Thursday that its new owners would appoint Jacob Svanberg, Senior Vice President Lidar Product Area, as new CEO, to succeed Jan Carlson, who will be appointed advisor to the board and to the CEO.
It had previously said the deal was expected to close in 2022. Veoneer was spun off from air bag and seatbelt maker Autoliv (NYSE:ALV) in 2018.
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Written By: Reuters
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