November 25, 2014 / 9:59 AM / 3 years ago

Visteon in talks to sell South Korean unit to local PE firm

SEOUL (Reuters) - U.S. automotive parts maker Visteon Corp VC.N was in talks to sell a controlling stake in its South Korean unit Halla Visteon Climate Control Corp 018880.KS to a local private equity firm, Halla Visteon said in a regulatory filing on Tuesday.

An undated handout rendering of the driver cockpit with instruments, interactive touch screen controls and head-up display in Visteon's e-Bee vehicle concept. REUTERS/Visteon/Handout

Halla Visteon said Visteon, its major shareholder, notified it that talks with Hahn and Company to sell its stake were under way.

Halla however had no further details on the terms of the deal.

On Monday, Korean media reported that Visteon Corp had signed a preliminary deal to sell its controlling stake in Halla Visteon for $3.6 billion.

Reporting by Ju-min Park; Editing by Biju Dwarakanath

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