Dana Corp. to sell non-core engine hard parts business

Toledo, Ohio – Dana Corp., which is in Chapter 11 bankruptcy reorganisation, has entered into a stock and asset purchase agreement to sell its non-core engine hard parts business for an aggregate price of approximately $157 million to Mahle GmbH, a worldwide supplier to the automotive and engine industries.

The agreement provides for Mahle and certain of its affiliates to acquire the equity and tangible and intangible assets of the global operations comprising the engine hard parts business from Dana and some of its affiliates….

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