GM to help investment firm buy Delphi

By doris | Published: June 5, 2009

Full Story At money.cnn.com

NEW YORK (Reuters) — General Motors Corp will give more than $2.5 billion of the $3.6 billion needed for Platinum Equity to gain control of bankrupt car parts supplier Delphi Corp, the Wall Street Journal said, citing a source.

Under terms of the transaction, private equity firm Platinum is expected to invest no more than $750 million and GM (GMGMQ) would provide the balance in financing, the report said Thursday, citing the source.

Terms of the GM loans could not be learned, the report added.

Platinum declined to comment. GM and Delphi were not immediately available for comment.

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