France's Faurecia explores sale of bumpers business: Bloomberg
Reuters
Published Jul 20, 2015 03:34PM ET
Updated Jul 20, 2015 03:45PM ET
France's Faurecia explores sale of bumpers business: Bloomberg
(Reuters) - France's Faurecia SA (PA:EPED) is set to explore a sale of its bumpers business, which may be worth about $450 million, Bloomberg reported on Monday, citing sources.
The car parts maker is in talks with private-equity firms and automotive suppliers to measure interest, Bloomberg said.
The company, majority owned by PSA Peugeot Citroen (PA:PEUP), has also hired Citigroup Inc (N:C) to work on a potential dispute, Bloomberg reported on its website.
Faurecia, which has been considering a sale for about quite some time, may work to find to a buyer ready to pay a sufficient price or may decide against a sale, Bloomberg said.
The company, which tried to sell its front-end modules unit for more than a year, recently dropped plans of the sale.
Faurecia, PSA Peugeot Citroen and Citigroup could not be reached immediately for comment outside regular business hours.
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