Lingyun Locks Up Deal For Auto Latch Giant Kiekert

Law360, Los Angeles (March 13, 2012, 4:15 PM EDT) -- Beijing-based automotive parts supplier Hebei Lingyun Industrial Group Corp. Ltd. has reached a deal to buy automotive latch systems leader Kiekert AG, the 150-year-old German manufacturer announced Tuesday.

“The management board of Kiekert AG is in agreement that Lingyun is the right investor and that Kiekert will successfully formulate its future within the Lingyun Group of Companies,” Heiligenhaus, Germany-based Kiekert said in a statement Tuesday. “All of the conditions for a successful partnership are in place.”

Terms of the sale were not immediately disclosed.

Tuesday’s deal...
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