“Ford Motor Co. said Friday it will sell a subsidiary that offers vehicle service contracts and related products to dealers to a private equity fund. Terms were not disclosed.

Ford’s Automobile Protection Corp. is being sold to Trident IV LP, a private equity fund managed by Greenwich, Conn.-based Stone Point Capital LLC.

The Dearborn-based automaker is in the midst of a massive overhaul under which it is cutting jobs and closing plants as it loses market share at home to Asian automakers.

Ford said in a news release the sale was the result of its review of strategic options for the service contracts business announced in October. The deal is expected to close during the second quarter and is subject to regulatory approvals and other conditions.

Ford bought Automobile Protection in 1999.

Ford shares fell 18 cents, or 2.3 percent, to close at $7.59 on the New York Stock Exchange.”

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