5/25/2012 11:00:00 AM
Write a Letter to the Editor
Vehicle components maker Delphi Automotive said it has entered â€œexclusive negotiationsâ€� to purchase FCI Groupâ€™s Motorized Vehicles Division for 765 million euro (about $972 million).
MVL, which manufactures automotive connection systems, will become part of Delphiâ€™s Electrical / Electronic Architecture segment, Delphi said in a statement late Thursday.
MVL generated revenue of 692 million euro in 2011 and is owned by affiliates of Bain Capital.
Delphi said it expects the transaction to close by the end of 2012, subject to acceptance of the offer and regulatory approvals.
The acquisition should increase 2013 earnings by 24 cents per share, Delphi said.
Follow Transport Topics on RSS Twitter Facebook
Â© 2012, Transport Topics Publishing Group. All rights reserved.
Automation and Data-Management Tools Seen Benefiting Fleets, Logistics Providers (5/28/2012 2:45:00 AM)
Fleet Finance, IT Managers Set Joint Meeting; Will Explore Efficiency, Looming Tax Changes (5/28/2012 2:30:00 AM)
April Trailer Orders Rise 12% After 3 Straight Monthly Drops (5/28/2012 2:15:00 AM)
Durable Orders Edge Up in April (5/24/2012 9:30:00 AM)
LTL Carriers Hope Conference Committee Will Revive Pup-Trailer Expansion Plan (5/21/2012 3:00:00 AM)
Caterpillar Sells Majority Interest in 3PL to Private Equity Firm for $750 Million (5/21/2012 2:15:00 AM)