LONDON, Jan 19 (Reuters) - Private equity company Doughty Hanson is preparing a flotation of German car parts and auto repair company ATU in a move that could value ATU at more than 1.5 billion euros ($1.90 billion), the Financial Times reported.
Doughty Hanson is understood to have appointed investment banks Credit Suisse First Boston (CSFB) and HSBC to prepare the flotation, the report said. A float could take place by the third quarter this year, the FT added.
Doughty Hanson acquired a majority stake in ATU in 2002 for an undisclosed sum.
At the time of the acquisition, the private equity firm said it aimed to develop ATU, which owns some 380 branches in Germany, with a view to building up the company ahead of an initial public offering within five years.