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If it is what I think it is, it's the Bendix ignition system. If I'm right, there should be a label, "Bendix". I've got one of these lying around, salvaged from a 1987 240 with the K-engine. These rarely fail though. The Solex Cisac is a VERY complex carb though. Could be you need new gaskets, needle and float - or a Weber 36/36 DCD. Does it start easily?
One thing you should know: The K-engine is an interference engine! Check the service record to see when the timing belt was last replaced!
Erling.
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1987 240 GL 81K miles
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