U.S. Anti-Trust Officials Insist Bosch Sell Subsidiary

The U.S. Federal Trade Commission has ruled that Germany's Robert Bosch GmbH must sell its auto air-conditioning recharging business before it may complete its $1.2 billion (€926 million) acquisition of SPX Corp.'s vehicle diagnostics business.

In a settlement with the FTC, Bosch has agreed to sell its RTI Technologies subsidiary to Stuttgart-based Mahle Group. RTI makes the devices that mechanics use to replenish the refrigerants in vehicle air-conditioning systems.

The anti-trust regulators say the move is necessary to prevent Bosch from obtaining a near-monopoly in the devices. The SPX unit and RTI control about 80% and 10% of that market, respectively.

Bosch and SPX unveiled the original deal in January. The EU approved the sale in June.