Garrett Motion Inc., a key supplier of automotive turbochargers and other equipment, is exploring strategic options including a sale, people familiar with the matter told Bloomberg.
The Rolle, Switzerland-based company is working with an adviser on a possible sale, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Garrett is expected to attract interest from companies looking to enhance their EV operations, one of the people said. Nothing is imminent, the people added.
Garrett shares rose 7.5 percent in New York trading Wednesday afternoon, giving the company a market value of about $491 million. It also has about $1.2 billion of debt, for an enterprise value of about $1.5 billion.
