FountainVest Is Said to Be Last Bidder for ZF’s Lifetec Unit (1)

Asian private equity firm FountainVest Partners is the last remaining suitor for ZF Friedrichshafen AG’s airbags and seat belt business, according to people familiar with the matter.

FountainVest is trying to hammer out key terms of a deal for the ZF Lifetec unit, the people said, declining to be identified because the information is private. There’s still a wide gap on price expectations and there’s no certainty they will be able to reach an agreement, according to the people.

ZF has been seeking several billion euros for the Lifetec business, which also attracted initial interest from automotive supplier Adient ...