PARIS: France’s Faurecia 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 <PEUP.PA>, has also hired Citigroup Inc <C.N> 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.
