Wilbur Ross In No Hurry To Take Auto Supplier Public

Portfolio Company: International Automotive Components

Sponsor: WL Ross & Co.

Exit Possibility: IPO

Billionaire investor Wilbur Ross wants International Automotive Components, the auto supplier he controls, to go public to get access to cheaper capital, but he added he was in no rush for an initial public offering.

Ross, speaking ahead of a speech at the Automotive News World Congress in Detroit this month, said the investment banks will tell him when the markets desire an IPO by Southfield, Michigan-based IAC. “We don’t need the money,” he told ...

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