Report: Delphi Seeks to Sell Thermal Unit for $1 Billion

Delphi Automotive plc is preparing to put its heating and cooling systems business up for sale for $1 billion, unnamed sources tell Bloomberg News.

Delphi is testing interest this week among potential buyers that include France's Valeo SA and South Korea's Halla Holdings, according to the sources.

Bloomberg estimates the company's thermal products unit generated about $1.5 billion in revenue (9% of total company sales) and adjusted pretax earnings of $80 million in 2013. Delphi is the former components division of General Motors Co.