NEW YORK (Reuters) -Auto parts supplier LKQ is planning to sell Keystone Automotive Industries, its specialty parts division, three people familiar with the matter told Reuters, as the company faces pressure from investors to sell some assets to maximize shareholder value.

The division could be worth roughly $1 billion, according to LKQ's internal valuations, analysts at Raymond James have previously said.

THE DETAILS

* The company has hired investment bankers at Bank ofAmerica to help find a buyer for Keystone, the people said,asking not to be identified to discuss the confidential process. * Keystone offers specialty replacement parts for cars andtrucks, including bumpers, hoods, and remanufactured wheels. * LKQ has been approached in the past by private equityinvestors and began taking meetings with potentially interestedparties at a recent industry conference in Las Vegas, one of thesources said.  * Representatives for LKQ and Bank of America ( BAC ) declined tocomment. * THE NUMBERS * Chicago-headquartered LKQ has a market value of just over$8 billion. * Its shares are down roughly 20% over the last 12 months,despite the company's attempts to overhaul its portfolio.THE BACKGROUND

* In August, LKQ said it was selling its self-servicesegment to private equity firm Pacific Avenue Capital Partnersfor an enterprise value of $410 million. * With the stock still depressed, some investors are nowpushing management to sell its European business. * Activist investor Ananym Capital intensified its call lastmonth to sell LKQ's European operations to focus on itsflourishing North American business. * Ananym argued that there are interested buyers in theEuropean business and that the proceeds could be used to buyback shares, according to a letter viewed by Reuters.