BorgWarner has completed the purchase of approximately 62% of the outstanding shares of German-based Beru AG from its major shareholders, The Carlyle Group and a group of family shareholders.
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The purchase was a cash transaction at a price of €59 per share or €367 million (approximately $US490 million). Of the €367 million in financing, €240 million was borrowed locally and the remainder was funded by available cash balances.
Beru results will be consolidated within the BorgWarner Engine Group beginning in the first quarter of 2005.
Beru is a supplier of diesel cold starting technology, petrol ignition technology and electronic and sensor technology. Its major customers includeBMW, DCX, GM/Fiat, VW/Audi, Ford, Porsche, PSA, Renault, Isuzu, Siemens VDO, Valeo, Deutz, and MAN.
