Private equity firm Blackstone Group LP (BX.N) is exploring an initial public offering (IPO) of Gates Global LLC, three years after it acquired the U.S. auto parts and building products maker for $5.4 billion, people familiar with the matter said on Tuesday.
The IPO would follow a major turnout at the company under Blackstone, which had to implement a program of significant cost cuts after being hit by weak demand in the agriculture, infrastructure, energy and mining markets.
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