|Bid||52.28 x 0|
|Ask||52.51 x 0|
|Day's Range||51.78 - 53.93|
|52 Week Range||27.00 - 55.45|
|Beta (5Y Monthly)||1.65|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.32 (0.58%)|
|Ex-Dividend Date||Feb 25, 2021|
|1y Target Est||N/A|
Rating Action: Moody's assigns B1 to Clarios Global LP's new senior secured term loanGlobal Credit Research - 19 Feb 2021New York, February 19, 2021 -- Moody's Investors Service (Moody's) assigned a B1 rating to Clarios Global LP's (Clarios) proposed term loan B consisting of a US tranche and a Euro tranche. All other ratings for Clarios are unaffected, including the B2 corporate family rating, the B1 senior secured notes rating and the Caa1 senior unsecured notes rating.
(Bloomberg) -- Brookfield Asset Management Inc. is preparing to take car battery maker Clarios public about two years after buying it from Johnson Controls International Plc., according to people familiar with the matter.The Canadian firm is considering an initial public offering for Clarios later this year, said the people, who asked to not be identified because the matter isn’t public.Clarios, based in Glendale, Wisconsin, could be worth $20 billion in an IPO, the people said. Brookfield paid $13.2 billion for it in 2019.No final decision has been made and Brookfield could opt to keep the business.A representative for Brookfield and Clarios declined to comment.Brookfield acquired Clarios through its private equity affiliate Brookfield Business Partners LP.The business has been thriving, according to Brookfield Business Partners Chief Executive Officer Cyrus Madon.“Even in a lockdown world, cars and trucks need to move, and nothing can be transported without our batteries,” Madon said in a presentation in September, according to a transcript. “In fact, sales volumes at Clarios are now above last year’s levels.”One in three cars on the road globally use a Clarios battery and the company produced 153 million of them in 2019, according to Brookfield.Brookfield has set out to improve its annual earnings by about $300 million and Clarios has already achieved about one-third of that, Brookfield Business Partners management said in a conference call last week.The gains were made by improving the efficiency of its manucturing and battery recycling programs, as well as its transportation and supply chain management.Brookfield, based in Toronto, is one of the world’s largest alternative asset managers with extensive holdings in private equity, infrastructure, credit and real estate. It had $578 billion under management as of Sept. 30, according to its most recent earnings report.The takeover of Clarios, Johnson Control’s former power unit, was Brookfield’s second-largest deal on record, according to data compiled by Bloomberg.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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