European Union OKs Sale of Dana's Engine Parts Business - aftermarketNews

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European Union OKs Sale of Dana’s Engine Parts Business

European Union (EU) regulators Wednesday approved the $98 million sale of Dana Corp.'s engine parts business to a German supplier, the EU's regulatory arm said. The European Commission said the purchase of the Toledo, OH, company's engine-parts business by Mahle GmbH of Stuttgart, Germany, did not pose antitrust concerns. Dana said it expected the sale to close this month.

aftermarketNews Staff
By aftermarketNews Staff
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From United Press International

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BRUSSELS — European Union (EU) regulators Wednesday approved the $98 million sale of Dana Corp.’s engine parts business to a German supplier, the EU’s regulatory arm said.

The European Commission said the purchase of the Toledo, OH, company’s engine-parts business by Mahle GmbH of Stuttgart, Germany, did not pose antitrust concerns. Dana said it expected the sale to close this month.

Dana makes axle, driveshaft, structural and sealing products for cars and commercial trucks. It filed for Chapter 11 bankruptcy protection under the U.S. Bankruptcy Code a year ago.

The company has been seeking a buyer for the engine-parts business since late 2005.

Copyright 2007 by United Press International

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Emma Henderson is the Managing Editor of aftermarketNews and Counterman. She joined Babcox after a career as a television reporter for stations across the Midwest. Contact her at [email protected]
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