Visteon has confirmed it is in talks with Hahn & Company regarding the potential sale of Visteon’s ownership interest in Halla Visteon Climate Control Corp. (HVCC) to the Korea-based private equity company.
The company said in a statement that “there can be no assurance that these discussions will result in any transaction or on what terms any such transaction may occur”.
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It also said that “Visteon expects that HVCC, the world’s second largest provider of vehicle thermal management solutions, would continue to benefit from its well-respected management team, strong balance sheet, expanding global customer base and globally recognized technical acumen.”
Korean media reports have suggested that Visteon has already signed a preliminary deal to sell its controlling stake in Halla Visteon for US$3.6bn.
Halla Visteon Climate Control is the world’s No. 2 automotive climate control supplier and Visteon owns a 70% stake.
