December 18, 2018 / 3:58 PM / a year ago

BUZZ-Magna International: Gains on deal to acquire Viza Geca

** Shares of Canadian auto parts maker up 3.9 pct at C$61.78 in early trade

** Co signs deal to buy Viza Geca SL to bolster its seating capabilities; acquisition is expected to close by Q1-end 2019

** Co will add Viza’s two facilities in Europe (Spain and Czech Republic), and one each in Morocco and Mexico; to add more than 1,100 employees

** “Viza’s deep expertise and footprint give us added support to grow, especially in Europe, and strengthen our competitive position,” Mike Bisson, Magna Seating president says

** Despite Tuesday’s gains, stock down 13.7 pct this year (Reporting by Arundhati Sarkar in Bengaluru)

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