Delphi $972 million buy of FCI's car unit cleared in EU

Jul 22, 2023

By Reuters Staff

1 Min Read

BRUSSELS (Reuters) - Car parts maker Delphi Automotive Plc DLPH.N won EU regulatory clearance on Friday to buy FCI Group's motorized vehicles unit (FCI MVL) for about $972 million from private equity firm Bain Capital.

The European Commission said its investigation found no competition concerns because the purchase would not change the structure of the market.

"The Commission's investigation found that they have a moderate combined market share and a number of credible competitors remain active in this market," the EU executive said in a statement.

The acquisition of FCI MVL, which makes connectors that link different parts of an airbag, will add Asian car makers Nissan Motor Corp 7201.T and Hyundai Motor Co 005380.KS to Delphi's customer base.

Its other clients include Ford Motor F.N, General Motors GM.N, Volkswagen Group and Toyota Motor Corp 7203.T.

Reporting By Robert-Jan Bartunek

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