Lenders to Delphi are poised to take control of the bankrupt US auto-parts supplier, scuppering a government-orchestrated $3.6bn deal to sell the company to General Motors and buyout firm Platinum Equity, reports the WSJ. In a bankruptcy auction, Delphi’s lenders forgave more than $3.4bn in debt owned by several investment funds including Elliott Management and Silver Point Capital.

This entry was posted by Gwen Robinson on Tuesday, July 28th, 2009 at 5:08 and is filed under Capital markets, Private equity. Tagged with delphi, gm, platinum. Edit this entry.