Dana to sell its engine hard parts unit to Germany’s Mahle for $157M

Dec 04, 2006 | 09:50 AM | Philip Burgert

Automotive parts supplier Dana Corp., which is operating under Chapter 11 protection from creditors, has agreed to sell its non-core engine hard parts business to Mahle GmbH, Stuttgart, Germany, for an aggregate price of $157 million.

The purchase price includes about $98 million in cash and Mahle's assumption of some liabilities related to the business. The sale is subject to bankruptcy court approval and court procedures that will open it to competing bids, Dana executives said, but the sale is....

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