Appaloosa/Cerberus group agrees to Delphi stake

Newswire

CHICAGO, Dec 18 (Reuters) - Delphi Corp. said on Monday that a group led by Appaloosa Management LP and Cerberus Capital Management LP has agreed to invest up to $3.4 billion, giving the private equity investors a large stake in the auto parts maker when it emerges from bankruptcy. Delphi, which said it would file a framework agreement for a plan of reorganization on Monday, said the deal is contingent on the company reaching agreements with former parent General Motors Corp. and its labor ...

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