SEOUL (Reuters) - South Korea’s LG Electronics (066570.KS) and holding company LG Corp (003550.KS) said on Friday they agreed to buy a combined 100 percent stake in Austrian car light maker ZKW Holding GmbH for 1.4 trillion won ($1.3 billion).
LG Electronics and LG Corp will hold 70 percent and 30 percent stakes respectively in ZKW, LG Electronics said in a statement.
With the deal, the companies are seeking to target the global lighting sector in autonomous vehicle components, LG Electronics said.
($1 = 1,080.7000 won)
Reporting by Joyce Lee; editing by Darren Schuettler