Delphi Ready To Unload Interiors Unit

Law360, New York (October 17, 2007, 12:00 AM EDT) -- Determined to shed the excess weight, Delphi Corp. has located a buyer for its global interiors and closure business, as the bankrupt supplier continues to cast off noncore businesses while making its way toward a Chapter 11 exit.

On Tuesday, Delphi revealed that it had entered into a master sale and purchase agreement with a subsidiary of the Renco Group, which intends to snatch up the interiors and closure unit.

The Michigan-based company's board of directors has already approved the deal, and Delphi has asked the...
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