AP reports that European Union antitrust regulators have cleared the sale of Delphi’s battery business to U.S.-based car systems manufacturer Johnson Controls Inc.
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The EU head office said the $212.5 million deal “does not raise competition concerns” in the European market because there was enough competition in the industry, the report said.
The sale will see the transfer of Delphi’s global lead battery business to a joint venture run by Johnson Controls and Robert Bosch GmbH, a German supplier of automotive technology and power tools.
Johnson Controls owns 80 percent of Varta AG’s battery division, with the remaining share controlled by Bosch.
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By GlobalData
