Bankers predict Magna will be next company to embrace carve out sale of divisions

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Open this photo in gallery: Components of electric vehicle battery trays are welded at Magna's Heart Lake production facility in Brampton, Ont., on Aug. 3, 2023.Christopher Katsarov/The Globe and Mail Auto parts maker Magna International Inc. MG-T is expected to slim down by selling divisions in coming months, the same style of corporate finance diet that recently boosted profitability and share prices at retailer Canadian Tire Corp. and gold miner Newmont Corp. Bankers predict Aurora, Ont.-based Magna will be the next company to embrace what Bay Street calls “carve out” sales by auctioning up to two of its smaller business...