TI Automotive Close to $2 Billion Sale
TI Automotive is close to agreement to sell itself to Bain Capital Partners LLC for as much as $2 billion, sources tell Bloomberg News.
The Auburn Hills, Mich.-based supplier of automotive fluid handling systems is currently owned by a group of hedge funds led by Oaktree Capital Group LLC and Duquesne Capital Management LLC. They acquired the company in 2007 in a debt restructuring.
Talks between Bain and TI Automotive resumed earlier this month after stalling in November over price, according to Bloomberg. Its sources say Bain is lining up as much as $1.6 billion in debt to complete the purchase.
Chinese electric-car startup Nio Inc. is forming a manufacturing joint venture with Beijing E-Town International Investment and Development Co., which is investing 10 billion yuan ($1.5 billion) in the business.
Effective management is a timeless skill—as demonstrated by this treasure of an article from the AutoBeat Group archive. Although the tools of the trade have changed and proliferated, the basics remain the same. Here are 8 old school (and just darn practical) rules for being an excellent manager.
The little car that could still can. And this time as a car that not only gets great fuel economy, but which has ride and handling that makes it more than an econo-box (and its styling is anything but boxy).