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Garrett Motion files for bankruptcy with $2.1B KPS offer – Seeking Alpha

Garrett Motion (NYSE:GTX) officially files for Chapter 11 bankruptcy protection while also proposing a $2.1B sale of the business to private-equity firm KPS Cap…

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Garrett Motion (NYSE:GTX) officially files for Chapter 11 bankruptcy protection while also proposing a $2.1B sale of the business to private-equity firm KPS Capital Partners.
Garrett says KPS will be its stalking horse to acquire the company’s assets following its bankruptcy filing on Sunday in the U.S. Bankruptcy Court in Manhattan.
“Although the fundamentals of our business are strong… the financial strains of the heavy debt load and liabilities we inherited in the spinoff from Honeywell -…

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