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Visteon Sells Its Stake in Halla Visteon
Visteon Corp. has agreed to sell its 70% interest in South Korea's Halla Visteon Climate Control Corp. to the country's Hankook Tires Co. and private equity company Hahn & Co.
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Visteon Corp. has agreed to sell its 70% interest in South Korea's Halla Visteon Climate Control Corp. to the country's Hankook Tires Co. and private equity company Hahn & Co.
Visteon, which integrated its own climate control business with Halla Visteon last year, expects to complete the $3.6 billion deal in the first half of 2015. The company acknowledged in November it was in negotiations to sell its stake.
The sale will enable Visteon to focus on in-car electronics and the emerging market for connected-car technologies. The company will present an expanded array of cloud-based products and service and its "SmartCore" cockpit control system at the Consumer Electronics Show in Las Vegas in January.