Icahn Enterprises L.P. Announces Sale of Pep Boys for ~$700M

What Happened
Icahn Enterprises L.P. filed an 8-K on August 20, 2026, reporting that its wholly owned subsidiary, Icahn Automotive Group LLC, completed the previously announced sale of The Pep Boys‑Manny, Moe & Jack Holding Corp. to Mavis Tire Supply, LLC (a Mavis subsidiary). The transaction closed on August 20, 2026, for approximately $700 million in cash.

Key Details

• Buyer: Mavis Tire Supply, LLC (subsidiary of Mavis Tire Express Services Corp.).
• Seller: Icahn Automotive Group LLC, a wholly owned subsidiary of Icahn Enterprises L.P.
• Consideration: Approximately $700 million in cash.
• Icahn Enterprises will retain the owned real estate previously transferred from Pep Boys, plus the AAMCO Transmissions and Precision Tune Auto Care businesses within its Automotive segment.

Why It Matters
This transaction removes Pep Boys operations from Icahn’s Automotive segment while preserving certain real estate and additional automotive businesses (AAMCO and Precision Tune) that remain with the company. For investors, the cash proceeds and retained assets could affect Icahn Enterprises’ liquidity and the composition of its Automotive segment going forward; the filing is a formal notice of the completed divestiture.