Sales deadlines to rouse Delphi (Dealscape

Delphi Corp. has languished in Chapter 11 for more than three and a half years, but an additional financing commitment from bankrupt General Motors Corp. and a sale agreement with an affiliate of a private equity firm will have it working at warp speed over the next few weeks.

That's because an adjunct $250 million that GM, Delphi's former parent, will provide to the Troy, Mich., company -- it's being called Tranche C -- is contingent on Delphi winning approval of the sale of its assets to both Parnassus Holdings II LLC and GM by July 23. Then Delphi must close the deals by Aug. 3.

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NOT A SUBSCRIBER? Sales deadlines to rouse Delphi Posted on June 4, 2009 11:00 AM Delphi Corp. has languished in Chapter 11 for more than three and a half years, but an additional financing commitment from bankrupt General Motors Corp. and a sale agreement with an affiliate of a private equity firm will have it working at warp speed over the next few weeks. That's because an adjunct $250 million that GM, Delphi's former parent, will provide to the Troy, Mich., company -- it's being called Tranche C -- is contingent on Delphi winning approval of the sale of its assets to both Parnassus Holdings II LLC and GM by July 23. Then Delphi must close the deals by Aug. 3. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 281 in-depth reports of Bankruptcies in the Automotive sector 50 in-depth transaction records for Platinum Equity 66 in-depth transaction records for Delphi Corp. 18 company pages related to General Motors 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Idearc Inc. Deutsche Bank Amusement parks Deb Shops Windstream Corp. Concho Resources Hanna Andersson Tween Brands Edward Bastian		EXISTING USERS Username Password Forget your password? Missing a product?

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