GKN Wheels sale on the horizon?

The company itself has made no public comment, yet according to an article published by The Telegraph last week, Redditch-based company GKN plc is making plans to sell its Wheels division for approximately £130 million. According to the publication’s November 8 article, GKN recently appointed corporate advisory firm Gleacher Shacklock to work on the deal.

The Telegraph cites unnamed sources as reporting the sale process for GKN Wheels will likely start in the New Year. Yet the reason why GKN has decided to part with the business, which is part of its Land Systems division, is not clear.