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Ford sells Automobile Protection Corporation to private equity fund

From autoindustry| March 05 , 2007 17:24 BJT

Ford Motor Company has agreed to sell its Automobile Protection Corporation (APCO) subsidiary to Trident IV, L.P., a private equity fund managed by the $8bn Stone Point Capital LLC. This transaction is the result of the review of strategic options for the business announced by Ford in October 2006.The sale is expected to be completed during the second quarter of this year; terms of the agreement are not being disclosed.

APCO was acquired by Ford in July 1999. It offers vehicle service contracts and related aftermarket products to dealers of all makes and models.

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