OPMobility signs deal to explore buying Hyundai Mobis' lighting business (updated)

Opmobility SE

27/01/2026 07:29

Adds deal timing in paragraph 3, CEO quote in paragraph 5, background in paragraph 6, share performance and analyst comments in paragraphs 8-10

By Gianluca Lo Nostro and Gilles Guillaume

Jan 27 (Reuters) - French car parts supplier OPmobility OPM.PA said on Tuesday it had signed an agreement with South Korean auto parts maker Hyundai Mobis 012330.KS for the potential combination of their lighting businesses.

Under the proposed deal, OPMobility would get a controlling stake in Hyundai Mobis' lighting division.

An OPmobility spokesperson declined to disclose the financial terms of the planned acquisition. The company said in a statement it would determine the details during the upcoming negotiation process, with a final agreement expected to be reached this year.

Lighting has become a significant growth segment in the car industry because it is increasingly playing a role in the design and safety of cars.

Félicie Burelle, OPmobility's interim CEO, said in a statement that expanding the business with more global customers would help the group's push to diversify its geographies and customers.

Hyundai Mobis, an affiliate of automaker Hyundai Motor Co 005380.KS, said in December it was exploring various ways to boost competitiveness following media reports that it was seeking to sell the lamp business to OPmobility.

Revenue at OPmobility's exterior and lighting business shrank 1.9% to around 4 billion euros ($4.8 billion) over the first nine months of 2025, accounting for about half of the French supplier's total sales.

OPmobility, whose shares rose 1% in early Paris trading after gaining around 60% over the past year, does not disclose revenue figures for lighting only.

A source close to OPmobility said that Hyundai Mobis' lighting business weighs more than 1 billion euros of revenue per year. Analysts from J.P. Morgan gave a similar estimate in a note to investors.

The analysts also said the potential acquisition could help expand OPmobility's geographic footprint in Asia and rein in costs while ramping up production.

($1 = 0.8422 euros)

(Reporting by Gianluca Lo Nostro in Gdansk and Gilles Gillaume in Paris, editing by Milla Nissi-Prussak)

((gianluca.lonostro@thomsonreuters.com))