September 20, 2018 / 9:13 AM / 3 months ago

CORRECTED-S.Korea's Hanon to buy Magna's Fluid Pressure & Controls Group for $1.23 bln

(Corrects the description of the Magna business to be sold in headline and first sentence)

SEOUL, Sept 20 (Reuters) - Hanon Systems, a South Korean auto parts maker, said on Thursday that it plans to buy Magna International’s Fluid Pressure & Controls Group, which includes electronic pumps and cooling fans, for about $1.23 billion.

Hanon said the deal marks one of the biggest acquisitions of an overseas car parts business by a South Korean company, and aims to boost its product line-up for electric vehicles. (Reporting by Hyunjoo Jin; Editing by Himani Sarkar)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below