Tenneco picks banks to lead initial public offering
Updated
Updated · Bloomberg · May 4
Tenneco picks banks to lead initial public offering
11 articles · Updated · Bloomberg · May 4
The Apollo-owned auto supplier chose Bank of America, Barclays, Citigroup and JPMorgan Chase for the listing process, people familiar with the matter said.
The move advances plans for Tenneco to return to public markets after Apollo Global Management acquired the company four years ago.
Discussions remain private, and no timing, valuation or exchange for the proposed IPO was disclosed in the report.
Is Tenneco's IPO a blueprint for auto suppliers to survive the EV era, or a high-stakes financial exit for its private equity owner?
Will Tenneco's EV bets pay off fast enough to justify its ambitious $14 billion valuation as its legacy ICE business shrinks?