Visteon Announces Deal to Consolidate Worldwide Climate Operations Under 70%-Owned Affiliate Halla Climate Control
Posted on January 11, 2013 at 09:26 AM EST
Visteon Corporation (NYSE: VC ) and its longtime Korean affiliate Halla Climate Control Corp. (HCC) today announced they have signed a definitive agreement to contribute most of Visteon's automotive climate business to HCC for a purchase price of $410 million in cash (KRW 436 billion), subject to certain adjustments. The transaction, first outlined in