Hankook Tire linked to Halla Visteon bid speculation

According to news published by both Reuters and Bloomberg, South Korea’s Hankook Tire may submit a joint bid with private equity company Hahn & Company to acquire a majority share in climate control system specialist Halla Visteon Climate Control Corp. Reuter says its information comes from a Hankook Tire official, who was not named, while Bloomberg’s report is based on an e-mail from the tyre maker that confirmed interest in jointly purchasing the 70 per cent company share that Visteon Corp. presently holds.

Reuters says Hankook may fund 30 per cent of the transaction, which is worth an estimated total of Krw 3.9 trillion (£2.3 billion).