UK's Melrose Industries to spin off GKN automotive unit - FT
(Reuters) -Jet and auto parts supplier Melrose Industries plans to spin off its GKN automotive unit as a new UK-listed company as it breaks up one of Britain's oldest engineering businesses, the Financial Times reported on Thursday.
Source: www.reuters.com
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(Reuters) - Melrose Industries plans to spin off its GKN automotive division as a new UK-listed company, the Financial Times reported on Thursday, citing people familiar with the matter.
The automotive company will aim to trade on the London Stock Exchange next year under a yet-undecided name, the newspaper said.
Reporting by Jaiveer Singh Shekhawat in Bengaluru; editing by Uttaresh.V
