Ross in 1st big North American automotive buy

Dec 01, 2006 | 10:52 AM | Philip Burgert

After buying companies in Asia, Europe and South America with $1.5 billion in annual revenue, Wilbur L. Ross Jr.'s International Automotive Components Group LLC (IACG) is making its first investment in North America Lear Corp.'s interior systems division.

Ross is chairman of IAC North America LLC, a joint venture between W.L. Ross & Co. LLC, New York; Franklin Mutual Advisors LLC, a subsidiary of Franklin Resources Inc., San Mateo, Calif.; and Lear. Lear will hold 25 percent of the stock of IAC NA and warrants for an additional 7 percent equity interest.....





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