EU OKs General Motors To Buy Delphi Steering, Four Plants
August 13 2009 - 3:50AM
Dow Jones News
The European Commission Thursday cleared U.S. automaker General
Motors Co. to buy part of Delphi Corp. (DPHIQ), including its
global steering business and four of its plants.
Delphi, GM's former parts division, has relied heavily on its
former parent company as it has navigated bankruptcy
proceedings.
Delphi recently won court approval to sell assets to its lenders
and General Motors, clearing the way for the auto-parts supplier to
end its four-year stay in bankruptcy.
-By Elizabeth Bewley, Dow Jones Newswires; +32 2 741 1 485;
elizabeth.bewley@dowjones.com