PARIS (dpa-AFX) - OPmobility SE (OPM.PA), a French automotive supplier, on Tuesday said it has signed a memorandum of understanding with Hyundai Mobis Co., Ltd (012330.KS) to explore the potential acquisition of a controlling stake in Hyundai Mobis' lighting business for undisclosed financial terms.
The companies said the strategic partnership is aimed at reaching a final agreement in 2026 and would strengthen its competitiveness in the fast-evolving mobility industry.
A potential combination of the two lighting businesses is expected to increase scale, reinforce market and technological leadership, and generate cost efficiencies.
The company said the transaction would also expand its product portfolio, customer base, and geographic footprint.
On Monday, OPmobility closed trading 2.23% lesser at EUR 16.19 on the Paris Stock Exchange.
Hyundai Mobis closed trading 1.18% lesser at KRW 460,000 on the Korean Stock Exchange.
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