Remy acquisition boosts BorgWarner’s EV capabilities

BorgWarner has signed a definitive agreement to acquire rotating electrical components supplier Remy International. Under the terms of the agreement, BorgWarner will acquire each of the outstanding shares of Remy for US$29.50 in cash, which implies an enterprise value of Remy of approximately US$1.2 bn.

Speaking during a conference call to discuss the strategic rationale behind signing the deal, James Verrier, Chief Executive, BorgWarner, commented: “We strongly believe that