Plastic Omnium Said to Near Deal for Varroc’s Lighting Unit

Cie Plastic Omnium SA is nearing a deal to buy the auto-lighting unit of India’s Varroc Engineering Ltd., according to people familiar with the matter.

The companies are in advanced talks about a deal for the Varroc Lighting Systems business, which may be valued at about $700 million, the people said, asking not to be identified discussing confidential information.

An agreement could be reached as early as next week, though talks could still be delayed or fall apart, the people said. Representatives for Plastic Omnium and Varroc didn’t immediately respond to requests for comment.

An acquisition, if agreed, would ...