OTTAWA (dpa-AFX) - Magna International Inc.(MG.TO, MGA), a Canadian automotive parts maker, said on Thursday that it has inked deals to divest its lighting business through two separate transactions as well as its rooftop systems business in a third transaction.
The financial terms of transactions, expected to be completed in the second half of 2026, were not disclosed.
Swamy Kotagiri, CEO of Magna, said: 'Today's announcement underscores our commitment to actively managing our portfolio in line with our guiding principles. Magna will continue to focus on businesses that advance our long-term growth, margin, and return objectives.'
An investment firm will buy the lighting operations serving front and rear lighting programs in North America, South America, and China, while another investment company will acquire Magna's European lighting and rooftop systems operations.
Magna does not expect the sale of its three businesses to impact its 2026 adjusted income per share outlook.
For 2025, the lighting and rooftop systems businesses had reported sales of around $1 billion and $100 million, respectively.
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