Delphi gets court OK on $15 million sale of Mexican brake plant

By Reshmi Basu

New York, July 19 - Delphi Corp. obtained approval from the U.S. Bankruptcy Court for the Southern District of New York for the $15 million sale of its brake plant in Saltillo, Mexico, to German auto parts maker Robert Bosch LLC.

"There were no alternative bids, so no auction was held," Delphi counsel John Butler of Skadden, Arps, Slate, Meagher & Flom LLP told the court.

As reported earlier, Robert Bosch and its affiliate Frenados Mexicanos entered into a purchase agreement to buy the land, machinery and equipment. Under the agreement, Delphi's facility lease and certain contracts also will be transferred to Bosch.

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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