Automotive industry publications have reported that Marelli Holdings Co., an auto parts supplier owned by KKR & Co., will enter a “court-led rehabilitation” as a result of a failure to complete a similar dispute resolution process in Japan. These actions are taken to allow a company under financial strain to continue to operate while renegotiating debt with its creditors, the reports explained.
According to media reports, Hiroshi Watanabe, a spokesman for Saitama, Japan-based Marelli, confirmed the plan. The process is expected to take about a month.
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