23 Jun 2006
Hanover, Germany - Continental AG has received approvals to acquire the automotive electronics business of Motorola, Inc. from the EU Commission, which announced clearance of the transaction in Brussels, Belgium today.
The integration of the acquired business of €1300 million (sales 2005) into Continental's €5200 million Automotive Systems Division will begin as planned immediately after closing of the transaction. The closing of the transaction is expected to take place in July 2006, subject to customary and other regulatory conditions.
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Press release from Continental
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