Magna International to buy lighting products maker Olsa for $267 million

Canadian auto parts supplier Magna International Inc said on Thursday it would buy Italian company Olsa SpA for 230 million euros ($267 million), to expand its automobile lighting business. Turin-based Olsa supplies lighting products to car makers such as Volkswagen and BMW. Magna will have a total of 11 lighting manufacturing facilities after the Olsa deal, which is expected to close by the end of 2018.