Jan 7 (Reuters) – Auto parts supplier First Brands said on Wednesday it has launched a marketing and sale process for its business as a whole or in parts, as it works to emerge from Chapter 11 bankruptcy.
The company, which makes filters, brakes and lighting systems, had filed for bankruptcy protection in September last year.
First Brands said on Wednesday it has received inbound interest from potential strategic and financial buyers and aims to complete the sale process in the first quarter.
The company is also in talks with a group of lenders to secure additional debtor-in-possession financing, with the group expected to act as stalking horse bidder for certain assets.
(Reporting by Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar)
