General Motors announced earlier today that it has retained Merrill Lynch to help in the sale of its aftermarket parts business, ACDelco. Sale of ACDelco would help GM raise much-needed cash for the company that burns through about $1 billion a month. Though no suitors have been named just yet, we expect to be able to report names to you soon.
ACDelco employs about 600 people worldwide and is based in Grand Blanc, Michigan. Combined with the sale of GM’s Hummer brand and a plant in Strasourg, France, GM hopes to raise $4 to $7 billion, though it hasn’t said just what it expects out of ACDelco.
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