KPS Capital Partners to Acquire Substantially All Assets of Garrett Motion Inc.
September 20, 2020
KPS Capital Partners, through a newly formed affiliate, agreed to acquire substantially all of the assets of Garrett Motion Inc. for approximately $2.1 billion and was designated as the stalking-horse bidder as Garrett filed for Chapter 11. KPS will participate in Garrett's DIP financing to support operations, and a syndicate of banks has committed exit financing; the sale remains subject to court approval and customary closing conditions.
- Buyers
- KPS Capital Partners, LP
- Targets
- Garrett Motion Inc.
- Sellers
- Garrett Motion Inc.
- Industry
- Automotive
- Location
- Vaud, Switzerland
- Transaction Type
- Buyout
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