# Hanon Systems to acquire Magna's Fluid Pressure & Controls business for $1.23 billion

Korean automotive supplier Hanon Systems agreed to acquire Magna International's global Fluid Pressure & Controls business for an enterprise value of about $1.23 billion, with completion expected in Q1 2019.

- Type: Acquisition
- Announced: 2018-09-20
- Value: $1.23B
- Status: announced
- Products: electronic pumps, mechanical pumps, BLDC motors, electronic cooling fans
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Pumps and Valves](https://endata.com/sectors/pumps-valves.md)

## Companies

- [Magna International](https://endata.com/companies/2534.md) (partner)
- [Hanon Systems](https://endata.com/companies/2556.md) (acquirer)
- [Magna](https://endata.com/companies/3915.md) (target)

## Sources

- [hanonsystems.com](https://www.hanonsystems.com/En/Media/NewsDetails/125), 2018-09-20: "Hanon Systems today announced it has signed an agreement with Magna International Inc. to acquire its global Fluid Pressure & Controls business in a transaction valued at approximately $1.23 billion."
- [autonews.com](https://www.autonews.com/article/20180920/COPY/309209921/magna-selling-fluid-pressure-controls-unit-to-s-korean-supplier-for-1-23-billion/), 2018-09-20: "Magna selling fluid pressure, controls unit to S. Korean supplier for $1.23 billion"
- [autotechinsight.spglobal.com](https://autotechinsight.spglobal.com/news/5246836/hanon-systems-to-acquire-magnas-global-fluid-pressure-controls-business), 2018-09-21: "Hanon Systems has signed an agreement with Magna to acquire its global Fluid Pressure & Controls Business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.