EU Clears General Motors To Buy Delphi's Steering Business
April 30 2009 - 10:35AM
Dow Jones News
The European Commission Thursday cleared General Motors Corp.
(GM) to buy Delphi Corp.'s (DPHIQ) steering business.
The deal, which includes a GM loan, will add $400 million to
Delphi's balance sheet, according to court documents.
Delphi, GM's former parts division, increasingly is relying on
its former parent company as it struggles through the economic
downturn.
-By Adam Cohen, Dow Jones Newswires; +322 741 1486;
adam.cohen@dowjones.com
(David McLaughlin contributed to this article)