National Post (National Edition)



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 Toronto-based firm is considerin­g an initial public offering for Clarios later this year, said the people, who asked to not be identified. Clarios, based in Glendale, Wis., could be worth US$20 billion in an IPO. Brookfield paid US$13.2 billion for it in 2019. No final decision has been made. Brookfield acquired Clarios through its private equity affiliate Brookfield Business Partners LP. The business has been thriving, according to Brookfield Business Partners chief executive Cyrus Madon. 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.

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