Fashion OEM Hansae among bidders for GM Korea supplier

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Fashion OEM Hansae among bidders for GM Korea supplier - Korea Economic Daily

Quick Summary:

The holding company of Hansae Co., a leading global apparel original equipment manufacturer (OEM), is eyeing expansion to auto parts production by acquiring Erae AMS Co., a supplier to General Motors Co.’s Korean operation and Kia Corp.

Erae AMS and Estra were formerly Delphi Automotive Systems, which was spun off from General Motors in 1999.Erae cs acquired a 42.3% stake in Delphi’s Korean affiliate for 190 billion won in 2011 and an additional 50% stake for 100 billion won in 2015 and split the company into Erae AMS and Estra Automotive.

Samhwa plans to conduct comprehensive evaluations on them and announce a preferred bidder on Aug.23, sources added.“Erae AMS’ parent Erae cs Co., which is under a reorganization process, is expected to accelerate normalization of its business operations if the deal is clinched,” an investment banking official said.