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Autoliv announces update on Veoneer spinoff

Swedish auto parts maker Autoliv Inc. said May 21 that its electronics division Veoneer filed an amendment to its registration statement with the SEC in relation with its planned spinoff from the company.

The amendment stipulates Autoliv's intent to provide total cash liquidity of approximately $1 billion through new external funding and existing cash.

In February, the company announced the spinoff and expects to complete the process in the third quarter of 2018.