UPDATE 1-Delphi says Platinum Equity to buy steering unit

Newswire

(Recasts first two paragraphs, adds details on bidding, bankruptcy background and dateline) CHICAGO, Jan 31 (Reuters) - Delphi Corp. confirmed on Wednesday that it is finalizing an agreement to sell its steering systems division to the private equity firm Platinum Equity LLC. Details of the negotiations will remain confidential until an agreement is filed with the U.S. Bankruptcy Court, the company, which filed for bankruptcy in October 2005, said in a statement. By getting close to ...

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