UPDATE 1-Private group to invest up to $3.4 bln in Delphi


(Adds details, background) CHICAGO, Dec 18 (Reuters) - A private equity group led by Appaloosa Management LP and Cerberus Capital Management LP will invest up to $3.4 billion in bankrupt auto parts maker Delphi Corp. , giving the investors a large stake when the company emerges from bankruptcy, Delphi said on Monday. Delphi also said Chairman and Chief Executive Steve Miller will step down as CEO on Jan. 1 and be succeeded by President and Chief Operating Officer Rodney O'Neal. O'Neal ...

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