BorgWarner buys Switzerland's Drivetek for nearly $38 mln
02/12/2022 15:38
** BorgWarner Inc BWA.N says it has acquired Switzerland's
Drivetek to strengthen its specialty power-electronics
capabilities and support growth of high-voltage eFan business
** BWA provides technology for combustion, hybrid and
electric vehicles
** Company's shares down 1.6%
** BWA says transaction has an enterprise value of up to 35
mln Swiss francs ($37.50 mln) urn:newsml:reuters.com:*:nPn99PJG7a
** An additional 10 mln Swiss francs could be paid in the
form of contingent payments over next 3 years, BorgWarner says
** YTD, BorgWarner stock down ~7% vs ~18% drop in Dow Jones
U.S. Consumer Goods index .DJUSNC
($1 = 0.9334 Swiss francs)
(Reporting by Pratyush Thakur in Bengaluru)
((pratyush.thakur@thomsonreuters.com))