General Motors Explores Potential Sale of ACDelco
General Motors (NYSE:GM) announced today that it is exploring a potential sale of ACDelco, its global independent aftermarket parts business, a brand of GM Service & Parts Operations. A sale is expected to promote more rapid growth of ACDelco globally.
As the company announced in July, GM is undertaking a number of initiatives to bolster its liquidity position by approximately $15 billion through year-end 2009, including the sale of assets which are expected to generate approximately $2-4 billion of liquidity. In addition to the ACDelco business, GM previously announced it is exploring the potential sale of its Hummer brand and its technical and manufacturing center in Strasbourg, France.
ACDelco provides light-duty maintenance and repair parts and associated services for both GM and non-GM vehicles in more than 100 countries. Part of GM Service & Parts Operations, ACDelco is headquartered in Grand Blanc, MI, with approximately 600 employees worldwide.
GM has retained Merrill Lynch to assist in this initiative.
