Remy International, Inc. Announces Receipt of Korean Antitrust Approval for BorgWarner Inc.'s Acquisition of Remy International, Inc.

Remy International, Inc.

announced today that on October 13, 2015, the Korea Fair Trade Commission granted approval of the proposed acquisition (the "Transaction") of Remy by BorgWarner Inc.

. As previously announced by Remy, on September 22, 2015, Remy's stockholders adopted the Agreement and Plan of Merger, dated as of July 12, 2015 (the "Merger Agreement"), by and among Remy, BorgWarner and Band Merger Sub, Inc. at a special meeting of Remy's stockholders called for such purpose. The closing of the Transaction remains subject to the satisfaction or waiver of customary conditions to closing set forth in the Merger Agreement, which include: the receipt of any approval required under Chinese antitrust law and the termination or expiration of any applicable waiting period thereunder; the accuracy of each party's representations and warranties (subject to customary materiality qualifiers); each party's compliance with its agreements and covenants contained in the Merger Agreement; and the absence of any law, ordinance, rule, regulation, order, judgment or decree being in effect that restrains or enjoins, or otherwise prohibits or makes illegal, the consummation of the Transaction.