Blackstone Considers IPO Of Gates Corp

(RTTNews) - Blackstone Group (BX) is considering an initial public offering of Gates Corp. that could value the auto-parts maker at as much as $9 billion, according to reports citing people familiar with the matter.

The reports noted that the private-equity giant is in the early stages of laying the groundwork for the possible offering. The business could be worth $8 billion to $9 billion, one of the people said. It isn't clear whether that includes debt.

There's no guarantee there will be a Gates IPO any time soon. If there is, it would represent a relatively quick turnaround for Blackstone, which bought the business three years ago, and likely signal that the investment has been a good one.