BUZZ-LKQ explores sale of Specialty segment; shares fall
Shares of auto parts supplier LKQdown 1.2% at $29 in morning tradeCo says it is exploring the potential sale of its Specialty segment“Current market conditions present an attractive environment to assess divestiture options and ensure we maximize the value of this best-in-class business,” says CEO Justin JudeCo hires Bank of America as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel for the processIn August, LKQ agreed to sell its self-service segment to Pacific Avenue Capital Partners for $410 millionIncluding session moves, shares down 21% YTD
Shares of auto parts supplier LKQ (LKQ.O) down 1.2% at $29 in morning trade
Co says it is exploring the potential sale of its Specialty segment
“Current market conditions present an attractive environment to assess divestiture options and ensure we maximize the value of this best-in-class business,” says CEO Justin Jude
Co hires Bank of America as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel for the process
In August, LKQ agreed to sell its self-service segment to Pacific Avenue Capital Partners for $410 million
Including session moves, shares down 21% YTD
