Weil, Gotshal & Manges is advising Korean private equity company Hahn & Co. on its proposed $3.6 billion acquisition with Seoul-based Hankook Tire Co. Ltd. of a majority stake in U.S. auto supplier Visteon Corp.’s climate control business.
Korea Stock Exchange-listed Halla Visteon Climate Control is the world’s second-largest maker of air conditioning and heating systems for vehicles, and sells its products to clients such as Volkswagen AG, Honda Motor Co. Ltd. and General Motors Co. The company was formed in 1986 as a joint venture between Ford Motor Co. and Korean auto supplier Mando Corp. before being spun off by Ford in 1999. Halla bought Visteon’s climate control business last year, creating HVCC.
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