Source: Reuters (via feed)
Active Dynamics Group has agreed to acquire the Walbro business from First Brands for $50 million.
First Brands is a bankrupt U.S. auto parts maker. The sale was announced on Tuesday.
The company is selling business units to fund its bankruptcy restructuring and address fraud claims.
Active Dynamics is headquartered in Canada.
BizTrendWire Insight:
The transaction is part of First Brands’ bankruptcy restructuring process. It involves the transfer of its Walbro business unit to Active Dynamics.
The transaction is part of First Brands’ bankruptcy restructuring process. It involves the transfer of its Walbro business unit to Active Dynamics.