IAC plans to go public, issue IPO
Published On Feb 05, 2011 05:34 PM By Vikas for Audi A8 2014-2019
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If the rumours are to be believed it is being speculated that, International Automotive Components Group (IAC), may go public in an IPO. The company was organized from the remnants of companies like Lear Corp. and Collins & Aikman by the billionaire investor Wilbur Ross.
As per the reports, officials from IAC have stated that the reports are speculative but the sources also confirmed that Ross has hired JPMorgan Chase. JPMorgan Chase would look after the registration statement for an IPO in March. However the officials did mention that there might be a change in the plan.
It is believed that Ross Acquired and consolidated the loss making interiors manufacturing units of Collins & Aikman and Lear Corp. Not only this but he also converted the firm into a profit yielding organization. Currently the company employs around 19,000 employees across the world.
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