Apple contract manufacturer, Luxshare, is acquiring a majority stake in the German company Leoni AG and its subsidiary Leoni Kabel GmbH. Luxshare will acquire 50.1% of Leoni AG, a player in the automotive cable solutions market, for €205.4 million ($228 million).. They will also acquire 100% of Leoni Kabel GmbH, a subsidiary of Leoni AG that focuses on producing cables for the automotive industry. Leoni Kabel GmbH will be bought for €320 million ($355 million) by a newly established company owned by Luxshare and its partners.
If successful, this acquisition is expected to strengthen Luxshare’s global positioning in the automotive market by combining its existing capabilities with Leoni’s expertise in automotive cables and wiring systems, opening up direct channels into Leoni’s customer base.
