April 26, 2018 / 9:34 PM / 5 months ago

BRIEF-Autoliv provides update ahead of planned spin-off

April 26 (Reuters) - Autoliv Inc:

* AUTOLIV PROVIDES UPDATE AHEAD OF PLANNED SPIN-OFF

* ANNOUNCED IMPORTANT STEPS IN PROCESS TO SPIN-OFF ITS ELECTRONICS BUSINESS

* ANTICIPATES TRADING IN VEONEER TO BEGIN IN EARLY PART OF Q3 OF 2018 WITH LISTINGS ON NEW YORK STOCK EXCHANGE AND NASDAQ STOCKHOLM

* PROCESS OF SPINNING OFF ELECTRONICS BUSINESS UNDER NAME VEONEER IS PROGRESSING WELL

* AUTOLIV- TO FUND CAPITAL INJECTION, AUTOLIV INTENDS TO RAISE MAJORITY OF NEEDED CAPITAL THROUGH DEBT FINANCING

* INITIAL CAPITALIZATION OF VEONEER IS EXPECTED TO BE PROVIDED THROUGH A CAPITAL INJECTION FROM AUTOLIV

* IT IS EXPECTED TO BE SUFFICIENT TO FUND VEONEER UNTIL IT REACHES POSITIVE CASH FLOW

* INITIAL CAPITALIZATION OF VEONEER WILL PROVIDE UP TO $1.2 BILLION OF CASH LIQUIDITY IN VEONEER

* TO FUND CAPITAL INJECTION THE REMAINING AMOUNT WILL BE FROM AUTOLIV'S CASH ON HAND Source text for Eikon: Further company coverage:

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