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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.
Magna International announced the acquisition of ixetic Verwaltungs GmbH, a maker of automotive vacuum, engine and transmission pumps with plants in Germany, Bulgaria and China, for about €308 million.
Korean Hanon Systems acquired the global fluid pressure and controls business of Magna International for a global deal value of US$1.2 billion. Kochhar & Co advised on the Indian leg of the transaction, as reported on 1 March 2019.
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.
Advik Hi-Tech won six orders from Magna Powertrain to supply transmission oil pumps for passenger cars and SUVs, estimated to generate about Rs 350 crore (US$51 million) in sales over their lifetime, starting in 2018.
