Aptiv to spin-off its electrical distribution systems business.

Aptiv, a technology company enabling a more safe, green and connected future, agreed to spin-off its electrical distribution systems business. Financial terms were not disclosed. “We have a long track record of transforming Aptiv through operational changes and organic and inorganic portfolio shifts to best position our businesses in a dynamic environment. Today’s separation announcement represents the next step in our transformation journey. By enhancing strategic and operating focus, we are positioning both Aptiv and EDS to more effectively address the evolving needs of our customers and to further capitalize on market opportunities, which we believe will drive even greater success and value creation for both companies,” Kevin Clark, Chairman and CEO.