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Wednesday, January 26, 2011

Wilbur Ross's IAC mulls sale along with IPO-sources, (EPED), (NYSE: BAC), (NYSE: JPM)

Representatives of billionaire investor Wilbur Ross have approached several vehicle parts makers to gauge their interest in buying his International Automotive Components Group interiors business, people familiar with the matter said. One of the companies they approached is auto interior parts maker Faurecia (EPED.PA), these people said. This is happening at the same time that IAC has hired Bank of America Corp (BAC.N) and JPMorgan Chase & Co (JPM.N) to work on an initial public offering, two sources told Reuters.

Source