Veoneer US, Inc signed an agreement to acquire the remaining 49% stake in Veoneer Nissin Brake Systems America LLC (”VNBS”) from Nissin Kogyo Co., Ltd. (TSE:7230) for $1 on June 14, 2019. Pursuant to the transaction, VNBS will transfer or license the VNBS technologies necessary to operate the VNBA business to VNBA. The US operations of VNBS, including the transferred or licensed technologies, will thus become a wholly-owned Veoneer business. As of fiscal year ending March 31, 2019, VNBS total assets was JPY 19.297 billion ($174.06 million), sales of JPY 6.57 billion ($59.26 million). In return, effective upon closing, Veoneer will release Nissin Kogyo from any obligations to fund VNBA in the future and from any claims Veoneer may have had against Nissin Kogyo relating to VNBA. VNBS will also provide certain transitional services to VNBA. The VNBS operations in Japan and China will remain a part of the joint venture. Under the agreement, Nissin Kogyo will either provide guarantees VNBS commercial loans, or contribute capital to VNBS, in either case corresponding to 49% of the funding Veoneer has previously unilaterally provided VNBS. Veoneer expects to receive approximately $20 million as debt repayment from VNBS after such funding. The transaction is expected to close on or around June 28, 2019. Veoneer US, Inc completed the acquisition of the remaining 49% stake in Veoneer Nissin Brake Systems America LLC from Nissin Kogyo Co., Ltd. (TSE:7230) on June 28, 2019.