Magna has eye on Germany’s Getrag

Getrag, one of the biggest independent makers of transmissions, has attracted interest from automotive suppliers including Canada’s Magna International Inc., people with knowledge of the matter said. The family behind Getrag is exploring a stake sale or initial public offering amid rising consolidation among auto suppliers. The family hasn’t yet made a final decision, said the people, who asked not to be identified because the talks are private. Magna, North America’s biggest auto-parts maker, has expressed interest, as have some Chinese competitors, the people said.