BorgWarner, a major US-based supplier of automotive powertrain technology, wants to buy out the minority shareholders in its Beru subsidiary and delist the company from the German stock exchange.
BorgWarner owns more than 95 percent of Beru, a supplier of diesel-ignition technology and electronic systems based in Ludwigsburg, Germany.
The US company will present its offer for the remaining 5 percent at the annual meeting on May 20.
Beru has twice lowered its revenue and profit projections for 2008. With special items for restructuring included, Beru is expected to show an operating loss.