Autoliv increases holding in its SKorea Mando ops to 100 pct from 65 pct |
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Published
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Thu, 11 Jan 2007 12:08
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STOCKHOLM (AFX) - Autoliv Inc said it has increased its holding in Autoliv-Mando in South Korea to 100 pct from 65 pct.'The acquisition will enable Autoliv to fully integrate the Korean company into its global business operations,' said Autoliv.Autoliv-Mando was founded in 2000 with Autoliv holding 65 pct of the shares. In 2006 it had sales of 230 mln usd.Autoliv said the acquisition of the remaining shares is expected to increase amortisation by 12 mln usd and interest expense by 3 mln usd.'However, these negative effects will be fully offset by a reduction in Autoliv's cost for minority interest in subsidiaries,' the company said, 'As a result, the net effect of the acquisition is expected to be positive with an estimated increase in earnings per share of approximately 3 cents. The amortisation will decrease gradually and cease after 2009'.simon.richardson@thomson.comsjr/ambCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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