By PYC Bearings
©2004-2008
Delphi Corp. has agreed to sell its wheel bearings unit to Resilience Capital Partners, a private equity firm, for up to $44.2 million, subject to price adjustments.
The company filed a motion with the U.S. Bankruptcy Court to request a bidding-procedures hearing on Jan. 25.
Delphi expects a final sale hearing during the first quarter of 2008, following the bidding procedure process.
The Troy, Mich., auto parts company has said it will attempt to exit bankruptcy before the end of March.