Since last week the French universal bank Société Générale owns 6.91% of Valéo, the French automotive parts manufacturer.  Valéo has recently been fighting off Pardus Capital Management, which wants it to change its strategy to unlock more value for shareholders.  Pardus owns 15.08% of Valéo's capital.  The big question now is who will Société Générale support in the next stage of the skirmish: the Valéo management team or Pardus?

UPDATE on Monday June 4 : SocGen says that this was a trading error.  The bank is now back down to less than the 5% threshold of share ownership in Valéo.

4/7/2011 12:05:25 pm

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