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Icahn, Federal-Mogul Trying to Sell Fel-Pro

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Sept. 18, 2017—Carl Icahn’s Federal-Mogul Holdings LLC is considering a sale of its Fel-Pro engine parts business, according to a report by Crain’s Detroit Business.

Fel-Pro has about $180 million in earnings before interest, taxes, depreciation and amortization, says the report. Icahn is seeking about eight times Ebitda, which implies a desired sale price of about $1.5 billion, reports Crain’s.

Icahn is working with Chicago-based XMS Capital Partners LLC as an advisor on the sale process, reports one of the people that Crain’s spoke to.

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