Metaldyne gets court nod on stalking horse bidders
Jul 29, 2009 | 10:44 AM
| Corinna Petry
Metaldyne Corp., an auto parts manufacturer that filed for bankruptcy protection at the end of May, received court approval this week for Hephaestus Holdings Inc. (HHI) to serve as the stalking horse bidder for most of its powertrain operations and for Revstone Industries LLC as stalking horse bidder for most of its chassis operations.
The auctions will be held in early August.
HHI, a portfolio company of KPS Capital Partners LP with other automotive holdings, submitted a binding proposal for all of Metaldyne's sintered products, European forgings and vibration control products operations in Europe, Asia, Brazil, Mexico and the United States.....
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