SEOUL, Sept 20 (Reuters) - Hanon Systems 018880.KS , a South Korean auto parts maker, said on Thursday that it plans to buy Magna International's MG.TO Fluid Pressure & Controls Group, which includes electronic pumps and cooling fans, for about $1.23 billion.
Hanon said the deal marks one of the biggest acquisitions of an overseas car parts business by a South Korean company, and aims to boost its product line-up for electric vehicles.