FRANKFURT -- Delphi Corp. has nearly wrapped up the acquisition of mg technologies' ignition systems business, the German industrial group said Tuesday.
"The deal is just about to close," a spokesman for mg tech said, declining to comment further on the planned disposal of Dynamit Nobel AIS.
The unit will be the last of the Dynamit Nobel businesses to be disposed of after mg sold the rest of the specialty chemicals division as part of a massive restructuring earlier this year.
On Tuesday, German newspaper Handelsblatt reported that the sale of the unit, which posted revenues of around $52 million in 2003, had been approved by the German cartel office.
Roughly a year ago, Delphi acquired the car-radio division of struggling electronics group Grundig.