Melrose to separate GKN businesses

The Melrose Group, which owns GKN, says that it plans to move GKN Automotive and GKN Powder Metallurgy into a new holding company.

The new company, DemergerCo will be an independent, London-based group which will trade on the London Stock Exchange as an automotive platform, the Group said.

The existing company, called Melrose Industries plc, will retain ownership of GKN Aerospace.