Atlanta, Georgia (March 30, 2017) -- Genuine Parts Company and Inenco Group announced today that Inenco will issue new shares to Genuine Parts Company, representing a 35 percent stake in Inenco for approximately $70 million (USD) in cash. The investment will go into place on April 3.

Genuine Parts Company will have the opportunity to acquire the remaining 65% stake in Inenco at a later date.