US private equity firm SSW Partners, the owner of automative technology company Veoneer, is exploring the possible sale of the company’s passive safety business, which could attract as much as $500 million, according to a report by Bloomberg.
US private equity firm SSW Partners, the owner of automative technology company Veoneer, is exploring the possible sale of the company’s passive safety business, which could attract as much as $500 million, according to a report by Bloomberg.
The report cites unnamed sources familiar with the situation as confirming that SSW Partners is working with advisers to gauge interest in the unit from other private equity firms as well as companies in the automotive industry.
Veoneer last month completed the sale of its active safety business to Magna International Inc and is now focused on fusing “the best long-term home” for its remaining passive business Veoneer Safety Systems.
