U.S. hedge fund Pardus has raised its stake in French car parts group Valeo to 10.57 percent, France's AMF stock market regulator said today.
In a regulatory filing, Pardus said it had 10.57 percent of Valeo's share capital and 10.36 percent of its voting rights.
Pardus, which is controlled by Karim Samii, had previously disclosed a 10.19 percent stake in Valeo.
Pardus reiterated it had the right to acquire more shares in Valeo and could ask for board representation, but did not plan to take control of Valeo.
