LEONI signs a legally binding agreement for a \u2018transformative partnership\u2019 with LUXSHARE. Austrian entrepreneur Stefan Pierer and China\u2019s LUXSHARE have agreed that LUXSHARE will acquire a 50.1 percent stake in LEONI AG, which was previously fully owned by Pierer.<\/p>\n\n\n\n
\u201cHaving LUXSHARE as a strong strategic partner will significantly enhance LEONI\u2019s competitiveness across all fronts \u2013 from portfolio expansion and market access to technological capabilities and production,\u201d said Klaus Rinnerberger, CEO of LEONI AG. <\/p>\n\n\n\n
Grace Wang, Chairman and CEO of LUXSHARE Group, added: \u201cWe 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.\u201d<\/p>\n\n\n\n
Entrepreneur Stefan Pierer commented: \u201cWith LUXSHARE, we have found the perfect partner to secure LEONI\u2019s long-term success. Both shareholders have demonstrated how a strong business model can propel a company into new markets.\u201d Grace Wang emphasized: \u201cThis collaboration marks a pivotal step in our journey towards becoming a global leader in the automotive sector.\u201d<\/p>\n\n\n\n
In a parallel transaction, TIME Interconnect Singapore \u2013 a joint venture between LUXSHARE subsidiaries LUXSHARE-ICT and TIME Interconnect Technology (TITL, listed on the Hong Kong Stock Exchange) \u2013 will acquire 100 percent of LEONI AG\u2019s ACS division.<\/p>\n\n\n\n
The execution of the legally binding agreement is subject to antitrust review and approval.<\/p>\n","protected":false},"excerpt":{"rendered":"
LEONI signs a legally binding agreement for a \u2018transformative partnership\u2019 with LUXSHARE. Austrian entrepreneur Stefan Pierer and China\u2019s LUXSHARE have agreed that LUXSHARE will acquire a 50.1 percent stake in LEONI AG, which was previously fully owned by Pierer. \u201cHaving […]<\/p>\n","protected":false},"author":2,"featured_media":14852,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[48,54,56],"tags":[],"_links":{"self":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts\/14849"}],"collection":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/comments?post=14849"}],"version-history":[{"count":1,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts\/14849\/revisions"}],"predecessor-version":[{"id":14853,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts\/14849\/revisions\/14853"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/media\/14852"}],"wp:attachment":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/media?parent=14849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/categories?post=14849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/tags?post=14849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}