AP News

Delphi Automotive closes on FCI unit acquisition


TROY, Mich. (AP) — Delphi Automotive has completed its acquisition of FCI Group's motorized vehicles unit for 765 million euros ($987.5 million).

The deal, which was announced in May, allows Delphi to expand its global reach and its ability to make electronic connectors for vehicles.

The motorized vehicle business of FCI, which is based in the U.K., makes auto connection systems. It is owned by affiliates of Bain Capital.

Delphi Automotive PLC, based in Troy, Mich., spun off from General Motors Co. in 1999, went into bankruptcy court protection in 2005 and emerged four years later after cutting thousands of jobs and selling factories and businesses.

The company said Friday that it still expects the transaction to add 24 cents per share to its 2013 earnings, excluding acquisition-related costs.


Ebola Rising
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus