Visteon: the automotive electronics supplier has renegotiated a new EWC agreement placing it under British law

Transferring Visteon’s EWC to operate under British law has been one of the American global automotive electronics supplier’s longstanding goals (c.f. article No. 120351). Significant changes in the company’s legal structure (in 2014 it bought US Johnson Controls electronics division and in 2015 it sold its equity interest in the Climate operations that had its own EWC) gave management the opportunity to justify a comprehensive renegotiation with a specially established SNB of a new EWC agreement that would operate under British law. The agreement was signed on 24 May, just one month before the UK voted to exit the EU…