BUZZ-Aptiv rises after co to separate electrical distribution systems business

Reuters

01-22

BUZZ-Aptiv rises after co to separate electrical distribution systems business

** Shares of Auto parts supplier Aptiv APTV.N up 5.2% at $65, premarket

** Co says it will spin-off its electrical distribution systems (EDS) business into a new company

** APTV's shareholders will retain their current shares of Aptiv stock and receive a pro-rata dividend of shares of the new EDS company stock

** Company affirms its full-year 2024 outlook

** shares up ~2.2% YTD after falling 32.6% in 2024

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))

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