Delphi extends bid deadline, postpones auction for catalyst business sale

By Caroline Salls

Pittsburgh, July 18 - Delphi Corp. extended the bid deadline and auction date in connection with the sale of its global original equipment and aftermarket catalyst business, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The bid deadline was extended to July 31 from July 24 and the auction was postponed to Aug. 8 from Aug. 1.

As previously reported, Belgian metals firm Umicore SA is the stalking horse bidder, with a bid of $55.6 million.

The sale hearing is scheduled for Aug. 16.

Delphi, a Troy, Mich.-based automotive electronics manufacturer, filed for bankruptcy on Oct. 8, 2005. Its Chapter 11 case number is 05-44481.

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