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Mahle to Acquire Air Conditioning Business from Delphi for USD 727m.

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MANews-(C)2009-2015

19 February 2015 - German auto parts company Mahle has signed a definitive agreement to acquire the wholly-owned thermal business of US automotive supplier Delphi Automotive PLC (NYSE: DLPH), the company said on Thursday.

Under the deal, Mahle will pay around USD 727m, according to Delphi.

In 2014, the Delphi division and its approximately 7,600 employees achieved annual sales of about USD 1.2bn (roughly 1.0bn euros).

After approval by relevant antitrust authorities, a closing of the deal is anticipated in the fall of 2015. Mahle also intends to acquire Delphi Thermal's joint venture in China.

The takeover supports the strategic expansion of the important thermal management growth sector within the Mahle Group. Comprehensive thermal management systems will play an increasingly significant role for all potential drive systems of the future -- combustion engines, electric drives (batteries and power electronics) or fuel cells.

Delphi Thermal is represented in all regions of the world. Its product portfolio, ranging from HVAC modules and air conditioning compressors to cooling components, is an ideal complement to Mahle's existing thermal management activities.

The identically named Mahle business unit, which was formed in connection with the majority acquisition of the Behr Group in 2013, will be in an even stronger position to serve the automotive industry as its global systems partner. Furthermore, air conditioning compressor technology will round out Mahle's thermal management product range.

The goal is to integrate the 13 Delphi plants in Europe...

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