South Korean tyre maker Hankook Tire is considering partnering with private equity firm Hahn & Company to jointly bid for Halla Visteon Climate Control Corp, an official at Hankook Tire told Reuters, without elaborating.
Korea Economic Daily reported that Hahn & Company was in final talks to attract Hankook Tire as a strategic investor for the deal, citing unidentified banking and industry officials.
The newspaper also said that Hankook may pay 30 percent of the deal estimated at 3.9 trillion Korean won ($3.55 billion).
U.S. automotive parts maker Visteon Corp was in discussion to sell a controlling stake in its South Korean unit Halla Visteon Climate Control Corp to Hahn & Company, Halla Visteon said in a regulatory filing last month.