British investment firm Rosebank Industries said on Wednesday it is in talks to buy US-based Electrical Components International (ECI), which makes wire harnesses, from private equity firm Cerberus Capital Management.
Rosebank, which specialises in acquiring and improving businesses before selling them, said the terms of the proposed transaction remain confidential.
The deal could be worth $2 billion, Sky News reported earlier, citing sources.
Rosebank said if a deal is struck, it would be funded through an equity issue and new debt facilities.
ECI did not immediately respond to Reuters’ request for comment outside regular working hours.
Source: Reuters.com