Delphi pieces in place to do an IPO, up to owners: CEO
Privately owned Delphi Automotive LLP has the main management pieces in place to launch an IPO, but how and when is up to its private equity owners, the part's maker's CEO said on Wednesday.
January 13, 2011 / 08:53 IST
Privately owned Delphi Automotive LLP has the main management pieces in place to launch an IPO, but how and when is up to its private equity owners, the part's maker's CEO said on Wednesday.
"That would be a great moment if it were ever to occur for Delphi, but it is not my focus," O'Neal said in an interview on the sidelines of an auto industry conference in Detroit.Delphi emerged from a four-year bankruptcy restructuring in October 2009 a much smaller company after selling off or closing several businesses inherited in its spinoff from former parent General Motors in 1999."Our basic model has always been set," he said. "We spent the last few years making sure we had it definitely done. So yes, I think the major pieces are in place."Delphi has trimmed its focus to safety products, car connectivity and green car components. About 40% of its revenue comes from Europe, 30% from North America and the rest from other regions.Through the first nine months of 2010, Delphi's revenue was up about 22 %to nearly USD 10.2 billion from a year earlier."We still have plenty of work to do," O'Neal said. "I don't want you to think that what I am saying is that we are done. You are never done in this business." Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
