Federal-Mogul to spin off motorparts business

Sept 3 Wed Sep 3, 2014 8:48am EDT

Sept 3 (Reuters) - Federal-Mogul Holdings Corp said it would spin off its motorparts business into a publicly traded company.

The planned separation will be a tax-free distribution to Federal-Mogul shareholders, the company said.

Federal-Mogul will retain the powertrain business, which supplies powertrain components to automakers. (Reporting by Mridhula Raghavan in Bangalore; Editing by Sriraj Kalluvila)

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