KAR Holdings Wants To Raise $400M In IPO

Law360, New York (September 15, 2009, 6:00 PM EDT) -- Automobile auctioneer Kar Holdings Inc. has said it intends to make a $400 million initial public offering on the New York Stock Exchange.

The Indiana-based company is issuing the IPO to repay debt, pay termination fees to equity sponsors and fund general corporate activity, according to a registration statement that it filed with the SEC Monday.

Goldman Sachs & Co. will act as the sole underwriter for the proposed IPO, Kar said in a statement on Monday.

Kar has 214 auction locations across the U.S., an...
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