Thu, Feb. 19, 5:25 AM
- Looking to expand its technology offerings for combustion engines, electric cars and fuel-cell vehicles, Mahle has agreed to buy Delphi Automotive's (NYSE:DLPH) heating and cooling business for about $727M in cash.
- Mahle will integrate 13 plants in Europe, the Americas and Asia plus development centers in the U.S. and Luxembourg into its global network, and will acquire Delphi’s stake in a related joint venture in China under a separate deal.
- DLPH +1.9% premarket
- Previously: Report: Delphi to sell auto air conditioning businesses (Feb. 18 2015)
Wed, Feb. 18, 5:46 PM
- Delphi Automotive (NYSE:DLPH) reportedly has agreed to sell its automotive heating and cooling business to German competitor Mahle for more than $700M, with details of the sale to be announced as early as tomorrow.
- DLPH also is said to have reached a separate deal to sell its Shanghai Delphi Automotive Air-Conditioning System to Mahle, but the financial details are not yet clear.
- The sale would be the latest in a series of moves DLPH has taken to narrow its focus to drive research and development into higher margin product areas such as fuel cells and navigation systems.
Nov. 26, 2014, 11:16 AM
- Delphi's (DLPH -0.2%)sale of its air conditioning business, Delphi Thermo, is being complicated by potential problems with one its South Korean JV partners, Reuters reports.
- Delphi's business has caught the eye of France's Valeo (OTCPK:VLEEY -0.2%), Germany's Mahle and Japan's Denso (OTCPK:DNZOY -0.1%) and a sale could fetch more than $700M.
- The potential problems stem from the fact that Erae (a company which Delphi holds a JV with called Kdac) has also expressed interest in the business but is being sidelined from the process.
- Delphi's Thermal Systems unit posted adjusted EBITDA of $80M on sales of $1.5B in 2013.
Jun. 18, 2013, 2:05 AMJohnson Controls (JCI) is reportedly in talks with P-E firms about selling them its automotive electronics unit, which is valued at $1B, after industry interest weakened due to the unit's softer-than-expected performance. Delphi Automotive (DLPH) has pulled out the running, although Visteon (VC) and SAIC (SAI) subsidiary Huayu Automotive Systems are still involved. | Comment!
May. 24, 2012, 4:37 PM
DLPH vs. ETF Alternatives
Other News & PR