June 13, 2018 / 11:42 AM / 8 months ago

German car parts maker IFA Rotorion put up for sale - sources

FILE PHOTO: Workers carry a table at the booth of IFA Rotorion company producing driveshafts during the media day at the Frankfurt Motor Show (IAA) in Frankfurt, Germany, September 14, 2015. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - German car parts maker IFA Rotorion has been put up for sale by its family owners in a potential 500 million euro (440.7 million pounds) deal, two people close to the matter said.

Investment bank Rothschild has been tasked with finding a buyer for the company, which makes propeller shafts and joints for carmakers in Europe, Asia and North America and which is expected to attract interest from peers as well as private equity groups.

Rothschild declined to comment, while IFA and its family owners were not available for comment.

Reporting by Arno Schuetze; Editing by Tom Sims

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