Delphi in €765 Million Acquisition of FCI Group’s MVL Division
June 05, 2012
Cleary Gottlieb represented Michigan-based auto-parts maker Delphi Automotive in connection with its binding option to acquire France-based FCI Group’s Motorized Vehicles Division (MVL) for €765 million on a cash and debt-free basis (approximately $972 million at current exchange rates).
MVL is owned by affiliates of U.S. private equity firm Bain Capital and is a leading global manufacturer of automotive connection systems with a focus on high-value, leading technology applications. This transaction will boost Delphi’s presence in the automotive safety equipment market and expand its footprint in Asia.