Aptiv (APTV) announced that its Board of Directors has unanimously approved a plan to separate its Electrical Distribution Systems business from Aptiv, creating two independent companies. The new EDS will be a global provider of low voltage and high voltage electrical architectures for automotive and commercial vehicle markets.
The separation transaction is expected to be effected through a spin-off of EDS, under which Aptiv shareholders will retain their current shares of Aptiv stock and receive a pro-rata dividend of shares of the new EDS company stock. Aptiv is targeting completion of the separation by March 31, 2026.
Aptiv affirmed full-year 2024 outlook, as previously provided on October 31, 2024.
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