Target: Advance Auto Parts Inc.
Price: More than $5.8B billion
Advisor (seller): Blackstone Advisory
Advance Auto Parts Inc. has hired investment bank Blackstone Advisory to explore a potential sale to private equity, two people familiar with the matter said, in a deal that could top $6 billion, sister news service Reuters wrote. The auto parts retailer, which sells parts, accessories, batteries and maintenance items to both do-it-yourself and commercial customers, has attracted initial interest from several private equity firms, one of the people said.The auction is at an early stage and the buyout firms have held management meetings with Advance Auto Parts over the past two weeks, the person said. Buyout firms are expected to team up for any deal, the person added. ...