S.Korea's Hanon to buy Magna's auto electronics business for $1.23 bln
20/09/2018 10:12
SEOUL, Sept 20 (Reuters) - Hanon Systems 018880.KS , a
South Korean auto parts maker, said on Thursday that it plans to
buy Magna International's MG.TO Fluid Pressure & Controls
Group, an auto electronics business, for about $1.23 billion.
Hanon said the deal marks one of the biggest acquisitions of
an overseas car parts maker by a South Korean company, and aims
to boost its product line-up for electric vehicles.
(Reporting by Hyunjoo Jin; Editing by Himani Sarkar)
((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))
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