IAC Group Postpones IPO

Luxembourg-based International Automotive Components Group SA has again delayed plans for an initial public offering, this time until at least early 2014, sources tell Bloomberg News.

The global interiors supplier canceled preparations for an IPO in 2011 because of the unsettled U.S. and European auto market, according to the news service. The company filed plans for the new offering last June, but analysts say would-be investors are reluctant to commit at year-end.

Billionaire Wilbur Ross created IAC in 2006 and has expanded it with more than a dozen acquisitions since then. Last year the company generated sales of more than $4.7 billion last year but reported a loss of $38 million.