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Ford Motor Company Announces Agreement to Sell Automobile ...

DEARBORN, Mich., March 2 /PRNewswire-FirstCall/ -- Ford [NYSE: F] announced today that it has entered into a definitive agreement to sell Automobile Protection Corporation (APCO) to Trident IV, L.P., a private equity fund managed by Stone Point Capital LLC. This transaction is the result of the review of strategic options for the business announced by Ford on October 11, 2006.The sale is expected to close during the second quarter and is subject to customary closing conditions, including applicable regulatory approvals. Terms and conditions specific to the agreement are not being disclosed at this time. .