FRANKFURT, Jan 29 (Reuters) - Germany's Mahle has launched a takeover bid for the air conditioning business of U.S. car parts maker Delphi, business daily Handelsblatt said on Thursday without citing sources.
Mahle was evaluating different opportunities in the growing field of thermal management, the paper quoted CEO Heinz Junker as saying, adding that he declined to comment on single activities.
Delphi's Thermal Systems business has caught the eye of France's Valeo, Germany's Mahle and Japan's Denso and a sale could fetch more than $700 million, Reuters reported in November.
Delphi's Thermal Systems unit posted adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $80 million on sales of $1.5 billion in 2013.
Mahle could not be reached immediately for comment.
A Delphi spokesman declined to comment on any speculation surrounding M&A activity.
(Reporting by Kirsti Knolle, Ben Klayman, editing by William Hardy)