OPmobility agrees to buy Hyundai Mobis' lighting unit for $443 million (updated)
UPDATE 1-OPmobility agrees to buy Hyundai Mobis' lighting unit for $443 million Adds context, agreement details and CEO quote in paragraph 2 and bullet point summary.
Sept 30 (Reuters) - Car parts supplier OPmobility OPM.PA has entered into a final agreement to buy Hyundai Mobis' 012330.KS lighting business for 600 billion Korean won ($443 million), the French firm said on Wednesday.
To offset weakness in its European business, OPmobility has been expanding in North America and Asia. Lighting has become a significant growth segment in the auto industry because it is increasingly playing a role in the design and safety of cars.
OPmobility aims to close the acquisition in the second half of 2027
Hyundai Mobis’ lighting activity generated revenue of 2.5 trillion won and a positive operating margin in 2025
The unit operates five plants in South Korea, China, Mexico and the Czech Republic
Analysts said earlier this year the acquisition could help expand OPmobility's footprint in Asia and rein in costs while ramping up production
"It will further deepen our partnership with Hyundai 005380.KS and Kia," OPmobility CEO Félicie Burelle said
($1 = 1,353.3800 won)
(Reporting by Lucie Barbier and Mathias de Rozario in Gdansk, editing by Milla Nissi-Prussak)
((Email: lucie.barbier@thomsonreuters.com))
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OPmobility agrees to buy Hyundai Mobis' lighting unit for $443 million (updated)
OPmobility agrees to buy Hyundai Mobis' lighting unit for $443 million