LG Acquires Global Premium Automotive Lighting Company ZKW Group - Energy Watch News


LG Acquires Global Premium Automotive Lighting Company ZKW Group

The Board of Directors of LG Electronics approved the acquisition of leading automotive lighting and headlight systems provider ZKW Group, Wieselburg, Austria, capping a deal worth more than EUR 1.1 billion, LG’s largest acquisition to date. Under the terms of the transaction, LG Electronics will acquire a 70 percent stake in ZKW Group with parent company LG Corp. purchasing the remaining 30 percent. The strategic merger is expected to result in synergies that allow the combined companies to lead the global lighting sector in autonomous vehicle components. The global automotive lighting market is expected to grow from USD 24.5 billion last year to USD 29 billion by 2020. https://www.ledinside.com

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