Bosch acquires SPX automotive service business or is approved by EU

According to informed sources, the EU competition regulator will approve Bosch Group's acquisition of SPX ’s automotive service business for US$1.15 billion.

The EU Executive Committee began its review of this transaction on May 21 this year and announced the final result on June 26. Informed sources disclosed that the EU Executive Committee will unconditionally approve this transaction.

The European Commission does not currently comment publicly on this matter.

Bosch Group

SPX's product range includes pumps, filters, transformers and cooling towers. SPX's sale of automobile service business is mainly to focus on the development of its main business, and it can also help it repay its debt and buy back some of its shares. Bosch will expand its automotive diagnostics market in the North American market through this acquisition.

SPX's sales of automotive tooling account for 15% of its total sales. It operates in the United States, Germany, France, and China. Its competitors include General Electric of the United States, GEA of Germany, and ABB Group of Switzerland.

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