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Canada/Spain: Magna to sell vehicle-interiors business for $525 million

By  |  April 16, 2015

Canadian auto-parts maker Magna International Inc said on Thursday it will sell most of its vehicle-interiors operations to Spain’s Grupo Antolin for about $525 million.

The deal covers 36 manufacturing plants and about 12,000 employees in Europe, North America and Asia, the company said.

Overall, we regard the deal as positive as it takes (Magna) out of a challenging product area,” said Canaccord Genuity analyst David Tyerman in a note to clients.

 

Full Content: Bloomberg

 

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