Delphi buys Grundig car radio unit for 58 mln eur

Newswire

NUREMBERG, Germany, Nov 17 (Reuters) - The world's biggest car parts maker, Delphi said on Monday it agreed to buy the car radio division of insolvent radio maker Grundig [GRNG.UL] for 58 million euros ($68 million). Delphi said in a statement it would pay 55 million euros in cash and take on three million in debts of the Grundig Car Intermedia Systems. Parent company Grundig, Germany's best-known maker of televisions and radios, filed for insolvency in April. The car radio division had ...

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