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Genuine Parts to buy European rival in $2 bln deal
September 25, 2017 / 11:11 AM / 3 months ago

Genuine Parts to buy European rival in $2 bln deal

Sept 25 (Reuters) - U.S. automotive replacement parts distributor Genuine Parts Co said on Monday it would buy European rival Alliance Automotive Group in a deal valued at about $2 billion, including debt.

Genuine Parts will buy Alliance Automotive from private equity funds managed by Blackstone and Alliance Automotive’s co-founders, the company said. (Reporting by Ankit Ajmera in Bengaluru; Editing by Sai Sachin Ravikumar)

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