From Financial Wire

Goldman Sachs Group Inc. has signed on as an additional investor in a proposed $3.4 billion investment plan to support auto parts maker Delphi Corp.'s emergence from bankruptcy.

The group, led by Cerberus and Appaloosa includes Harbinger Capital Partners, Merrill Lynch and Co. Inc. and UBS Securities LLC, with the plan contingent on Delphi reaching deals with its unions and former parent General Motors Corp. The group will hold a controlling stake in Delphi under the investment proposal, which Goldman has agreed to buy up to 642,857 shares of common stock directly allotted to the investor group led by Cerberus Capital Management LP and Appaloosa Management LP under the planned equity agreement.

Overall, Goldman could acquire more than 6.4 million shares in a reorganized Delphi under the agreement, depending on how heavily current stockholders participate in a proposed rights offering. Goldman, which holds a 3.5 percent stake in Delphi totaling more than 19.5 million shares, has agreed to acquire up to 5.79 million shares from the rights offering, if necessary.