S.Korea Halla buys car parts maker for $690 mln

SEOUL, Jan 21 (Reuters) - South Korea's Mando Corp confirmed on Monday its former parent company, Halla Group, led by Halla Engineering & Construction (014790.KS), has agreed to buy a 73 percent stake in Mando Corp for 650 billion won ($689.7 million).

"We were informed by our top shareholders about the agreement," a Mando spokesman said.

Halla Group is buying the majority of the brake and steering systems maker from Netherlands-based Sun Sage BV, set up by private equity firms CCMP and Affinity Equity Partners.

CCMP Capital Asia declined to comment.

Affinity officials could not immediately be reached for comment.

($1=942.5 Won)

(Reporting by Kim Yeon-hee; Editing by Sei Chong)