US: Collins Aikman selects successful bidder

摘要

BANKRUPT automotive components supplier Collins & Aikman is expected to name Third Avenue Management, a New York investment advisor, as the successful bidder to buy and recapitalise the interiors supplier so it can emerge from Chapter 11 protection, Automotive News reported. The deal is reportedly not yet finalised, as the selection of Third Avenue as the sponsor to take Collins & Aikman out of Chapter 11 would have to be approved by creditors and the US Bankruptcy Court.