Dana Corp. plans to exit bankruptcy in January after a court ruling approved the supplier’s reorganization plan, Reuters reports. The go-ahead from the court clears the path for the closing of the company’s $2 billion exit financing facility and satisfaction of other closing conditions. Dana, which filed for Chapter 11 reorganization in New York on March 6, 2006, says it expects to emerge from bankruptcy after securing an investment from private-equity firm Centerbridge Capital Partners LP. ...
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