China’s LUXSHARE acquires 50.1 percent stake in LEONI AG

LEONI signs a legally binding agreement for a ‘transformative partnership’ with LUXSHARE. Austrian entrepreneur Stefan Pierer and China’s LUXSHARE have agreed that LUXSHARE will acquire a 50.1 percent stake in LEONI AG, which was previously fully owned by Pierer.

“Having LUXSHARE as a strong strategic partner will significantly enhance LEONI’s competitiveness across all fronts – from portfolio expansion and market access to technological capabilities and production,” said Klaus Rinnerberger, CEO of LEONI AG. 

Grace Wang, Chairman and CEO of LUXSHARE Group, added: “We are excited about the potential of this partnership. By combining our strengths, we will not only expand our global footprint but also drive innovation and deliver greater value to our customers.”

Entrepreneur Stefan Pierer commented: “With LUXSHARE, we have found the perfect partner to secure LEONI’s long-term success. Both shareholders have demonstrated how a strong business model can propel a company into new markets.” Grace Wang emphasized: “This collaboration marks a pivotal step in our journey towards becoming a global leader in the automotive sector.”

In a parallel transaction, TIME Interconnect Singapore – a joint venture between LUXSHARE subsidiaries LUXSHARE-ICT and TIME Interconnect Technology (TITL, listed on the Hong Kong Stock Exchange) – will acquire 100 percent of LEONI AG’s ACS division.

The execution of the legally binding agreement is subject to antitrust review and approval.