LG acquires global premium automotive lighting Co
LAHORE: The Board of Directors of LG Electronics (LG) approved the acquisition of leading automotive lighting and headlight systems provider ZKW Group, capping a deal worth more than EUR 1.1 billion, LG’s largest acquisition to date.
Under the terms of the transaction, LG Electronics will acquire a 70 percent stake in ZKW Group with parent company LG Corp. purchasing the remaining 30 percent.
The strategic merger is expected to result in synergies that allow the combined companies to lead the global lighting sector in autonomous vehicle components.
Headquartered in the Lower Austrian town of Wieselburg, ZKW Group is a high-tech leader in automotive lighting systems with a presence in markets throughout Europe in addition to China, Mexico and the United States.