Delphi Motors (NYSE: DLPH) has announced the completion of the acquisition of the Automotive Products Business Unit (MVL) of the FCI Group. MVL is the world's leading manufacturer of automotive connector systems and is committed to leading, high-value technology applications. On a debt-free basis, Delphi will complete the transaction in cash, with a total value of 765 million euros. Irrespective of integration costs and other related acquisition costs, the transaction is expected to increase Delphi ’s earnings per share in 2013 by US $ 0.24. Delphi is very confident that by 2015, the pre-tax benefit of the merger between the two parties will reach US $ 80 million.
Rod O'Neill, CEO and President of Delphi, said: "We are very excited to complete the acquisition of MVL. The market's increasing demand for automotive electronics and automotive safety products has strengthened Delphi's role in the global automotive connector industry. Leading supplier status and increasing Delphi ’s revenue in this segment of the market. I believe that the combined connector business will bring considerable operating revenue to Delphi and generate operational synergies to accelerate our sales and revenue growth. "
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