Tenneco continues to look for strategic alternatives of powertrain technology, DRiV business units
Company hires Lazard to its existing advisor team as independent financial adviser
Tenneco has been reviewing strategic alternatives for its Powertrain Technology and Aftermarket and Ride Performance (DRiV) business units to maximize shareholder value, the US-based automotive supplier reconfirmed in a press release on 27 January. In addition to its current plan to spin off the DRiV business, Tenneco said it is “reviewing and considering a full range of strategic options including the sale of DRiV and/or the Powertrain Technology business. In addition, Tenneco is also considering transactions involving other individual product lines in the portfolio.