September 7, 2017 / 9:15 AM / 10 months ago

Bosch Mahle Turbo Systems to be sold to Chinese private equity firm

FRANKFURT (Reuters) - Bosch Mahle Turbo Systems will be sold to Chinese private equity firm Fountain Vest Partners for an undisclosed sum, Bosch and Mahle said in a joint statement on Thursday.

A contract to sell the business was signed on Sept. 6, the companies said.

Fountain Vest plans to invest and expand the turbos business, Frank Tang, chief executive of Fountain Vest, said in the statement.

Reporting by Edward Taylor; Editing by Mark Potter

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