Auto parts maker Delphi Automotive Plc is looking to sell its business that makes heating and cooling systems for cars, and will seek as much as $1 billion, Bloomberg reported, citing people with knowledge of the matter. Delphi has approached companies including French automotive supplier Valeo SA and South Korea's Halla Holdings Corp and is planning to meet with possible buyers this week, Bloomberg reported. (bloom.bg/1vNB2o6)Delphi, which is working with a financial adviser on the sale, could use the sale proceeds to bolster its core areas including electronics, safety systems or engines and transmission technologies, Bloomberg reported.Delphi could not be reached for comment immediately.
Delphi Automotive PLC (Delphi) is a global vehicle components manufacturer and provides electrical and electronic, powertrain, safety and thermal technology solutions to the global automotive and commercial vehicle markets. Shares of DLPH fell by 0.05% or $-0.03/share to $64.92. In the past year, the shares have traded as low as $53.40 and as high as $71.96. On average, 2109130 shares of DLPH exchange hands on a given day and today's volume is recorded at 1788887.
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