BBU - Car-battery giant Clarios files for IPO at possible $20B+ valuation

Car-battery giant Clarios disclosed Wednesday that it’s confidentially filed for an IPO that could reportedly value the Wisconsin-based company at more than $20B.Clarios, which makes the batteries used in one out of every three cars worldwide, said in a statement that it confidentially submitted a draft S-1 form with the U.S. Securities and Exchange Commission for an initial public offering.However, the company offered no other details, such as how many shares it plans to offer or at what price, making the firm’s market value hard to calculate.That said, Reuters quoted unnamed sources as saying that the battery maker could be worth north of $20B.Clarios is owned by Brookfield Business Partners LP (BBU) and Canada’s Caisse de dépôt et placement du Québec. BBU is in turn a unit of Brookfield Asset Management (BAM).Brookfield reportedly bought Clarios two years ago from Johnson Controls for $13.2B.The company makes both the traditional lead-acid batteries used

For further details see:

Car-battery giant Clarios files for IPO at possible $20B+ valuation