Garrett Motion Executes $50 Million Share Repurchase from Oaktree, Reducing Outstanding Shares
Summary
Garrett Motion Inc. repurchased 2.5 million shares for $50 million from Oaktree Capital, marking a significant execution of its recently announced share repurchase program.
Key Events
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Significant Share Repurchase
Garrett Motion Inc. repurchased 2,500,000 shares of its Common Stock from Oaktree Value Opportunities Fund Holdings, L.P., OCM Opps GTM Holdings, LLC, and Oaktree Opportunities Fund Xb Holdings (Delaware), L.P.
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Transaction Value and Price
The shares were acquired in a private sale on February 24, 2026, for $20.00 per share, totaling $50,000,000.
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Execution of Prior Program
This repurchase represents a substantial execution of the $250 million share repurchase program authorized and announced by Garrett Motion Inc. in its 10-K filing on February 19, 2026.
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Oaktree's Reduced Stake
Following the sale, Oaktree Capital Holdings, LLC and its affiliates now beneficially own 14,594,816 shares, representing approximately 7.68% of the Common Stock outstanding, down from their previous holdings.
Analysis
This Schedule 13D/A filing by Oaktree Capital Group Holdings, LLC, details the execution of a significant share repurchase by Garrett Motion Inc. The company bought back 2.5 million shares for $50 million from Oaktree, representing a substantial portion of the $250 million share repurchase program announced just days prior in the company's 10-K filing on February 19, 2026. This action demonstrates the company's commitment to returning value to shareholders and reducing its outstanding share count, which is generally viewed positively by the market. The transaction price of $20.00 per share was slightly below the current market price, which is common for large private block trades.
At the time of this filing, GTX was trading at $20.30 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $3.9B. The 52-week trading range was $7.02 to $21.42. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.