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Wire harness maker BizLink Holding Inc (貿聯控股) on Friday announced that it had reached a binding agreement with Leoni AG to acquire the German company’s Leoni Industrial Solutions for 451 million euros (US$522.9 million) in an all-cash transaction.
BizLink’s board of directors approved the acquisition and the company is planning to fund the deal with cash and bank financing, the company said in a regulatory filing.
BizLink has NT$9.062 billion (US$325 million) in working capital, it said.
Leoni Industrial Solutions last year reported revenue of 430 million euros.
It is a leading supplier of cables and cable systems for a wide range of
Taipei, Oct. 2 (CNA) BizLink Holding Inc., an interconnect electronics component supplier listed on the Taiwan Stock Exchange, has agreed to acquire the industrial solution assets from Germany's Leoni AG for 450 million euros or about NT$14.51 billion (US$518 million).