Federal-Mogul to spin off motorparts business
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)