TROY, MI -- Delphi Corp. and its affiliates have announced that they have selected Umicore as the successful bidder for the company’s global original equipment and aftermarket catalyst business.

At an Aug. 8 auction between Umicore and Catalytic Solutions Inc. (CSI), two qualified bidders, Umicore's offer of $75 million (subject to adjustments) was determined to be the highest and best bid. Umicore's offer will be presented to the U.S. Bankruptcy Court for the Southern District of New York for approval on Aug. 16. The sale to Umicore is expected to close before year-end. At the hearing before the U.S. Bankruptcy Court scheduled for Aug. 16, Delphi will also present the offer submitted at the Aug. 8 auction by CSI to be approved as the "alternate bidder" in the event the transaction between Delphi and Umicore does not close.

More information about the sale is available at: www.delphidocket.com.