Pursuits
Bang & Olufsen to Sell Car-Audio Unit to Harman in Focus Shift
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Bang & Olufsen A/S plans to sell its automotive sound-system business to Harman International Industries Inc., the U.S. maker of JBL audio equipment, as the Danish company reorganizes to focus on consumer electronics.
Bang & Olufsen stock jumped the most in almost 25 years after Stamford, Connecticut-based Harman said it will pay 145 million euros ($156 million) for the unit as well as technology license fees. Bang & Olufsen said separately that it will sell its minority stake in drug-dispensing equipment maker Medicom and is looking at options for its ICEpower amplifier unit.