Billionaire Clan Weighs $2 Billion Thai Summit Sale

Thai Summit Group, the Southeast Asian country’s largest auto-parts manufacturer, is weighing a sale of its business amid mounting pressure from the global shift to electric vehicles, political uncertainty and family succession gaps, according to people familiar with the matter.

Multiple global investment banks have recently renewed pitches to the Juangroongruangkit family that owns the company, for a disposal that could fetch between $1.5 billion to $2 billion, the people said, asking to not be identified because the information is private. The firm has yet to appoint a financial adviser, and early-stage talks might not lead to a mandate.