LG Electronics has seized the car market and is rumored to be paying for the acquisition of the Austrian automotive lighting industry ZKW Group. 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 LG Electronics had spent nearly two years negotiating with ZKW, and now negotiations have finally entered the final stage, which is expected to be announced later this month. It is understood that LG invested 1.6 trillion won (equivalent to about 9.376 billion yuan) to buy ZKW; another saying is 1.3 trillion won (equivalent to about 7.618 billion yuan), whether it is 1.6 trillion or 1.3 trillion won, both in the history of LG Electronics The maximum amount of the acquisition.
ZKW is the world's top three automotive lighting manufacturers, supplying to well-known car manufacturers such as BMW, Audi, Mercedes-Benz, Volkswagen, Ford and so on. In 2017, ZKW's revenue was 1.2 billion euros (equivalent to approximately 9.266 billion yuan).
Recently, LG Group has actively entered the automotive market. LG Electronics' auto parts sales have nearly doubled in the past three years to 3.38 trillion won (equivalent to RMB 19.807 billion). Related companies are also aggressively rushing. After LG Electronics acquires ZKW, LG Group will provide complete automotive component services, LG Display produces automotive panels, LG Chem produces automotive batteries, LG Innotek produces motors and communications equipment.
LG Electronics also came to the door when the car lighting business of the Fiat Chrysler Automobiles, Magneti Marelli, was on sale. In 2016, the case fell through and LG Electronics turned to ZKW to discuss the acquisition.
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