Aptiv Considers Selling Electrical Distribution Unit Instead of Spinoff

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.