Magna International Inc. (TSX:MG) agreed to acquire He System Electronic GmbH & Co. KG from TKH Technologie Deutschland AG on May 15, 2024. In 2023, turnover at HE, which is part of TKH?s Smart Manufacturing systems, amounted to ?20.7 million.

Upon closing, TKH is expecting a net cash inflow of approximately ?33 million in Q2 2024. Closing of the transaction is expected to take place at the end of May 2024.