Aptiv Is Said to Consider Sale of Electrical Distribution Unit

Aptiv Plc, which in January announced a spinoff plan for its electrical distribution systems business, is now reaching out to potential buyers for the unit, according to people familiar with the matter.

The company could seek a valuation of $5 billion for the business, the people said. A sale may attract interest from strategic buyers and private equity firms, they said, asking not to be identified discussing confidential information.

The deliberations are at an early stage and Aptiv could still pursue its spinoff plan instead of a sale, the people said. A representative for Aptiv declined to comment.

Aptiv ...