Belron To Buy Bankrupt Diamond Glass for $54.6M

Law360, New York (June 24, 2008, 12:00 AM EDT) -- Diamond Glass Inc., the bankrupt provider of automotive glass replacement and repair services, sold its assets for roughly $54.6 million at a bankruptcy auction last week.

On Friday, Judge Christopher Sontchi of U.S. Bankruptcy Court for the District of Delaware approved the sale of Diamond Glass to Belron US, a glass repair subsidiary of Belron SA of Luxembourg. Belron outbid stalking horse bidder Guggenheim Corporate Funding LLC and Newport/Levine Acquisition LLC at Thursday's auction.

Diamond Glass had anticipated selling its assets to the affiliate of Guggenheim,...
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