Garrett Motion entered into an agreement with KPS Capital Partners: the advisors
Garrett Motion confirmed a USD 2.1bn deal with KPS Capital Partners on its business. At the same time, the Switzerland-based turbocharger maker initiated a voluntary reorganisation in a US Chapter 11 proceeding with a view to resolve its capital structure.
As reported by Mergermarket, Morgan Stanley and Perella Weinberg Partners are serving as financial advisors, Sullivan & Cromwell and Quinn Emanuel Urquhart & Sullivan are serving as legal advisors, and AlixPartners are serving as restructuring advisor to Garrett Motion. UBS and Credit Suisse are serving as financial advisors and Davis Polk & Wardwell is serving as legal advisor to KPS.