Active Dynamics buys First Brands’ Walbro business for $50 million

(Corrects to remove bullet point stating that the transaction includes the Carter ​Carburetor brand, which is ‌part of the Walbro business but will be excluded from the sale)

By Dietrich Knauth

NEW YORK, March 10 (Reuters) – ‌Bankrupt ​U.S. auto ⁠parts maker First ⁠Brands said Tuesday that it had agreed to sell its Walbro business line to Canada-headquartered ​Active Dynamics Group for $50 million. The company is ⁠selling business units ⁠to fund its bankruptcy ​restructuring and address fraud claims.

(Reporting by Dietrich Knauth; Editing by ​Andrei Khalip)