[{"_1":2,"_86":-5,"_87":-5},"loaderData",{"_3":4,"_6":7},"root",{"_5":-5},"user","routes/tag.$slug",{"_8":9,"_75":76,"_83":78,"_84":66,"_85":67},"posts",[10],{"_11":12,"_13":14,"_15":16,"_17":18,"_19":20,"_21":22,"_23":24,"_25":26,"_27":28,"_29":30,"_31":32,"_33":34,"_35":-5,"_36":37,"_38":39,"_49":50,"_68":69,"_70":71,"_72":73,"_74":32},"documentId","qqeqmkeepjfjqjppwqtu4xu9","title","Luxshare Acquires German Automotive Wiring Harness Giant Leoni AG","slug","luxshare-acquires-german-automotive-wiring-harness-giant-leoni-ag","excerpt","China's Luxshare Precision invests 4.1 billion yuan to acquire German automotive wiring harness giant Leoni Group.","content","\n

Famous automotive wiring harness manufacturer Leoni AG signed a share purchase agreement with China's Luxshare Precision on September 17. According to the agreement, Luxshare Precision will acquire 50.1% of Leoni Group's shares and 100% of its wholly-owned subsidiary Leoni Kabel (referred to as 'Leoni K') for 525.41 million euros.

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Leoni is a wholly-owned subsidiary of L2-Beteiligungs, registered in Nuremberg, Germany. It mainly operates two core businesses: the Automotive Cable Systems Division (ACS) and the Wiring Systems Division (WSD). The Automotive Cable Systems Division is operated by Leoni's wholly-owned subsidiary Leoni K, while the Wiring Systems Division is operated by another wholly-owned subsidiary, Leoni Bordnetze Systeme (referred to as 'Leoni B'). Leoni B also owns four subsidiaries, which will be transferred to Leoni K before the equity transfer to ensure the smooth progress of the transaction.

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According to the agreement, Luxshare Precision will acquire 100% equity of Leoni K through its subsidiary for 320 million euros and will acquire 50.1% equity of Leoni for 205.41 million euros, with the remaining 49.9% equity continuing to be held by L2-Beteiligungs. Upon completion of the transaction, Leoni and Leoni K will be included in Luxshare Precision's consolidated financial statements.

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This acquisition marks another important move for Luxshare Precision in its automotive business layout. As one of Apple's core suppliers, Luxshare Precision has been increasing its investment in the automotive sector in recent years, beyond its consumer electronics business such as smartphones, in order to create new growth curves. According to its medium to long-term goals, Luxshare Precision plans to become a global Tier 1 leading manufacturer of automotive parts within the 'three five-year' periods.

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Luxshare Precision stated that this acquisition will help the company achieve resource sharing, complementary advantages, and strategic synergy with Leoni, quickly forming a differentiated competitive advantage for the company in the global automotive wiring harness field, providing more convenient and efficient vertically integrated services for Chinese automotive companies going abroad as well as traditional overseas car manufacturers.

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Tag: #Leoni

Luxshare Acquires German Automotive Wiring Harness Giant Leoni AG