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Home » News » Marketing News » LG is reportedly acquiring one of the world’s top three automotive lighting companies to attack the automotive market

LG is reportedly acquiring one of the world’s top three automotive lighting companies to attack the automotive market

Views:2     Author:Site Editor     Publish Time: 2018-04-24      Origin:Site

LG Electronics is attacking the automotive market and is rumored to be buying ZKW Group, an Austrian automotive lighting company. If it is negotiated, it will be the largest M&A case in the history of LG Electronics.

Korean media Pulse and Investor reported that it was reported that LG Electronics had spent the next two years negotiating with ZKW and that consultations are finally entering the final stage and are expected to be announced later this month. It is understood that LG invested 1.6 trillion won (equivalent to approximately RMB 9.376 billion) to buy ZKW; another accounted for 1.3 trillion won (equivalent to approximately RMB 7.618 billion). Whether it is 1.6 trillion or 1.3 trillion won, it has set a record for LG Electronics. The highest purchase price in history.

ZKW is the world's top three automotive lighting industry supplier to well-known car manufacturers such as BMW, Audi, Mercedes-Benz, Volkswagen, and Ford. In 2017, ZKW’s revenue was 1.2 billion euros (equivalent to approximately RMB 9.266 billion).

Recently, LG Group has actively expanded into the automotive market. LG Electronics' auto parts sales have nearly tripled to 3.38 trillion won (equivalent to approximately RMB19.807 billion) in three years. Relationship companies also aggressively rushed in. After LG Electronics acquires ZKW, LG Group will be able to provide complete automotive parts and components services, LG Display will manufacture automotive panels, LG Chem will manufacture vehicle batteries, and LG Innotek will produce motors and communications equipment.

Magneti Marelli, a car lighting business owned by Fiat Chrysler Automobiles, has also made a bid for the company. In 2016, LG Electronics turned to ZKW to negotiate acquisitions.

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