BUZZ-LKQ explores sale of Specialty segment; shares fall

Reuters12-05
BUZZ-LKQ explores sale of Specialty segment; shares fall

** Shares of auto parts supplier LKQ LKQ.O down 1.2% at $29 in morning trade

** Co says it is exploring the potential sale of its Specialty segment

** "Current market conditions present an attractive environment to assess divestiture options and ensure we maximize the value of this best-in-class business," says CEO Justin Jude

** Co hires Bank of America as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel for the process

** In August, LKQ agreed to sell its self-service segment to Pacific Avenue Capital Partners for $410 million

** Including session moves, shares down 21% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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