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South Korea's LG Electronics Acquires Austrian Automotive Supplier ZKW for €1.1 Bln
South Korean electronics manufacturer LG Electronics is acquiring the Lower Austrian lighting and electronics systems specialist ZKW for more than 1.1 billion euros. It plans to buy a 70 percent stake in ZKW Holding, a supplier to Mercedes-Benz and BMW. Its holding company LG Corp. will purchase the remaining stake for 330 million Euro. LG hopes to expand its position in the automotive lighting sector for self-driving cars. ZKW was previously wholly owned by the entrepreneur Ulrich Mommert.

By merging with LG as one of the world’s leading high-tech companies, ZKW secures access to know-how, resources and key technologies for the development of the intelligent light of the future and autonomous driving.
ZKW enters a new dimension: On April 26, 2018, the sale of 100% of the shares in the ZKW Group by the sole owner Ulrich Mommert to LG Corporation and LG…
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