Mando Corp., the largest unit of South Korea’s Halla Group, is planning an initial share sale of its Chinese unit that may raise as much as 300 billion won ($275 million), two people familiar with the matter said.
Ford Motor Co. was sued by more than 1,400 former U.K. workers for making misleading statements about the security of transferring their pensions to Visteon Corp. during the 2000 spinoff of the auto-parts company.
Auto-parts maker Visteon Corp. filed a revised Chapter 11 plan, hoping to mollify existing shareholders by offering them 1.94 percent of the stock if they vote in favor of the reorganization. The new plan came in just before the hearing that began yesterday morning for approval of a disclosure statement explaining the plan.
American Safety Razor Co. , the fourth-largest maker of wet-shaving blades, filed a Chapter 11 petition yesterday where the company will be sold to first-lien lenders in exchange for debt unless second-lien creditors make arrangements to pay off the senior creditors within seven weeks.