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SAN FRANCISCO (MarketWatch) -- Bankrupt automaker General Motors Corp. provided details of its plan to finance a new company to acquire all of auto parts maker Delphi Corp.'s remaining assets, according to a Securities and Exchange Commission filing late Friday. Among other things, GM will provide a capital investment and back-up financing to a new company formed by Platinum Equity to provide a $250 million credit facility to Delphi. GM also said it will acquire Class A membership interests in the acquisition company for $2 billion cash, with Platinum acquiring Class B membership interests for $250 million of cash, with Delphi acquiring Class C membership interests. GM and Platinum will provide a delayed draw term loan facility to Delphi, with GM committing $500 million and Platinum committing $250 million. GM will also carry all existing Delphi supply agreements and purchase orders for North America forward, with the acquisition company providing GM with certain protection of supply commitments.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

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