# Magna buys remaining 50% stake in STT Technologies oil pump business

Magna International, through a wholly owned subsidiary in a joint venture, agreed to purchase the remaining 50 per cent interest in STT Technologies, a North American supplier of transmission and engine oil pumps.

- Type: Acquisition
- Announced: 2020-05-19
- Where: United States
- Status: announced
- Products: transmission oil pumps, engine oil pumps
- 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) (acquirer)
- [STT Technologies](https://endata.com/companies/6520.md) (target)

## Sources

- [businesschief.com](https://businesschief.com/corporate-finance/magna-acquisitions-build-automotive-pump-market-share-1), 2020-05-19: "The acquisition of STT Technologies is a separate transaction entered into by Magna through a wholly owned subsidiary in a joint venture to purchase STT's remaining 50 per cent interest."

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