NEW YORK, July 3 (Reuters) Motorola Inc. said on Monday it completed the sale of its automotive electronics business to German automotive parts maker Continental AG for approximately $1 billion.
The former Motorola automotive unit began operating as a Continental unit as of Sunday, it said.
Sales from the unit will be reflected in Motorola's second quarter results, to be released on July 19, as a discontinued operation, the company said. The business had sales of approximately $400 million per quarter from the first quarter of 2005 through the first quarter of 2006, it said.
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