Delphi puts its steering unit up for sale again.(Suppliers)(Brief article)

Automotive News, September, 2007

Byline: David Barkholz

Delphi Corp. is still shopping its steering business.

The supplier reopened the bidding in July and is negotiating with additional potential buyers, Delphi spokeswoman Cheryl Kilborn said.

Delphi reopened the bidding despite having a memorandum of understanding to sell the division to the private equity company Platinum Equity LLC, of Los Angeles. Platinum is still in the talks, said Kilborn, who declined to comment further. Delphi announced the memorandum in January.

Platinum representatives did not return phone calls last week.

The worldwide steering business is the largest of the noncore divisions that Delphi is divesting as it prepares to exit Chapter 11 bankruptcy protection. The division posted...

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