{"id":12062,"date":"2017-01-20T17:03:04","date_gmt":"2017-01-20T16:03:04","guid":{"rendered":"http:\/\/www.factorfocus.ie\/?p=12062"},"modified":"2017-01-20T17:03:04","modified_gmt":"2017-01-20T16:03:04","slug":"billionaire-gains-full-control-of-federal-mogul-with-300-million-deal","status":"publish","type":"post","link":"https:\/\/www.factorfocus.ie\/index.php\/billionaire-gains-full-control-of-federal-mogul-with-300-million-deal\/12062","title":{"rendered":"Billionaire gains full control of Federal-Mogul with $300 million deal"},"content":{"rendered":"<p>Billionaire investor Carl Icahn has taken\u00a0full\u00a0ownership of\u00a0Federal-Mogul for approximately\u00a0$300 million. Icahn Enterprises LP, through his indirect wholly-owned\u00a0subsidiary IEH FM Holdings\u00a0LLC\u00a0already owned 82 per cent of the Federal-Mogul\u00a0shares.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-29699\" src=\"http:\/\/www.autotrade.ie\/wp-content\/uploads\/2017\/01\/Headquarters.jpg\" alt=\"\" width=\"367\" height=\"336\" \/>Federal-Mogul had previously cancelled its plan announced in\u00a0January 2015 to split the company into two separate public\u00a0entities &#8211; the aftermarket\u00a0parts and powertrain divisions. The reason given for this was prevailing market conditions.<\/p>\n<p>Federal-Mogul continues to operate two independent business divisions &#8211; Powertrain and Motorparts. The\u00a0Powertrain division designs and manufactures original equipment powertrain<br \/>\ncomponents and systems protection products for automotive, heavy-duty, industrial\u00a0and transport applications.<\/p>\n<p>Federal-Mogul Motorparts sells and distributes a broad portfolio of products through\u00a0more than 20 of the world\u2019s most recognized brands in the global vehicle aftermarket,\u00a0while also serving original equipment vehicle manufacturers with products including\u00a0braking, wipers and a range of chassis components.<\/p>\n<p>Mitchigan USA global headquartered Federal-Mogul ranks No. 47 on the\u00a0latest\u00a0Automotive News\u00a0list of the top 100\u00a0global suppliers. Federal-Mogul was founded in Detroit in 1899. The Company has more than 53,000\u00a0employees globally.<\/p>\n<p>Icahn already owns over 800\u00a0Pep Boys and 277 Auto Plus retail stores,\u00a0making him\u00a0the owner of the fifth\u00a0largest retail auto parts chain in the United States.<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"wp-image-29702 aligncenter\" src=\"http:\/\/www.autotrade.ie\/wp-content\/uploads\/2017\/01\/Federal-Mogul-Powertrain-.jpg\" alt=\"\" width=\"471\" height=\"70\" \/> <img loading=\"lazy\" decoding=\"async\" class=\"wp-image-29701 aligncenter\" src=\"http:\/\/www.autotrade.ie\/wp-content\/uploads\/2017\/01\/Federal-Mogul-Motorparts-.jpg\" alt=\"\" width=\"450\" height=\"92\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire investor Carl Icahn has taken\u00a0full\u00a0ownership of\u00a0Federal-Mogul for approximately\u00a0$300 million. Icahn Enterprises LP, through his indirect wholly-owned\u00a0subsidiary IEH FM Holdings\u00a0LLC\u00a0already owned 82 per cent of the Federal-Mogul\u00a0shares. Federal-Mogul had previously cancelled its plan announced in\u00a0January 2015 to split the company into two separate public\u00a0entities &#8211; the aftermarket\u00a0parts and powertrain divisions. The reason given for this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Billionaire gains full control of Federal-Mogul with $300 million deal - factorfocus.ie<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.factorfocus.ie\/index.php\/billionaire-gains-full-control-of-federal-mogul-with-300-million-deal\/12062\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billionaire gains full control of Federal-Mogul with $300 million deal - factorfocus.ie\" \/>\n<meta property=\"og:description\" content=\"Billionaire investor Carl Icahn has taken\u00a0full\u00a0ownership of\u00a0Federal-Mogul for approximately\u00a0$300 million. Icahn Enterprises LP, through his indirect wholly-owned\u00a0subsidiary IEH FM Holdings\u00a0LLC\u00a0already owned 82 per cent of the Federal-Mogul\u00a0shares. Federal-Mogul had previously cancelled its plan announced in\u00a0January 2015 to split the company into two separate public\u00a0entities &#8211; the aftermarket\u00a0parts and powertrain divisions. 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