Icahn, Federal-Mogul Trying to Sell Fel-Pro
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.