# Lear offers $89.3M to buy out Huayu's stake in Shanghai auto parts JV

Lear Corporation offered to pay CNY626 million (USD89.3 million) to acquire Huayu Automotive Systems' 45% stake in Shanghai Lear STEC Automotive Parts, a joint venture producing automotive wiring harnesses.

- Type: Acquisition
- Announced: 2020-07-06
- Where: Shanghai, China
- Value: $89.3M
- Status: announced
- Products: automotive wiring harnesses
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Huayu Automotive Systems](https://endata.com/companies/1495.md) (target)
- [Lear Corporation](https://endata.com/companies/1874.md) (acquirer)

## Sources

- [yicaiglobal.com](https://www.yicaiglobal.com/news/us-lear-offers-usd893-million-to-buy-out-chinese-partner-of-auto-parts-jv), 2020-07-07: "Lear holds 55 percent equity in Shanghai Lear STEC Automotive Parts, which was set up in 2003, and Huayu Automotive Systems holds the rest."

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