posted by admin on Oct 23
General Motors Corp. is endeavoring to bolster its liquidity position by about $15 billion through year-end 2009, including the sale of assets that the company hopes will generate approximately $2 billion to $4 billion.
GM announced Wednesday, Oct. 22, that it has retained Merrill Lynch to assist in the sale of its ACDelco business, which makes replacement parts such as batteries and oil filters. The price is an estimated $4 billion.
ACDelco provides light-duty maintenance and repair parts and associated services for both GM and non-GM vehicles in more than 100 countries. ACDelco is headquartered in Grand Blanc, MI, with approximately 600 employees worldwide.
In addition to the ACDelco business, GM previously announced it is exploring the potential sale of its Hummer brand and its technical and manufacturing center in Strasbourg, France.
Leave a Reply