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Leoni AG will reach a binding agreement to sell its Business Group Leoni Industrial Solutions to BizLink Holding Inc. The activities generated sales of about EUR 430 million in FY2020 and are valued at an enterprise value of around EUR 450 million. Closing is expected in early 2022.
Bizlink Holding Inc. completed the acquisition of the Electrical Appliance Assemblies Business from LEONI Cable Assemblies GmbH and related entities for an enterprise value of €50 million. The business includes several subsidiaries across Europe and Asia.