5/25/2012 11:00:00 AM
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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.
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