DETROIT (Reuters) - General Motors Corp is exploring the sale of ACDelco, its global aftermarket parts business, to raise cash, the No. 1 automaker said on Wednesday.
GM, which also has its Hummer all-SUV brand and a manufacturing center in Strasbourg, France, on the auction block, has retained Merrill Lynch to assist in the potential sale of ACDelco.
In July, the automaker laid out a plan to boost its liquidity by $15 billion by end of 2009. The plan included costs cutting and sales of assets that are expected to raise $2 billion to $4 billion.
ACDelco, which provides light-duty maintenance and repair parts for both GM and non-GM vehicles, is based in Grand Blanc, Michigan, and has about 600 employees worldwide.
GM is also in talks with Cerberus Capital Management, which owns Chrysler LLC, about combining the two automakers at a time when both are struggling to survive a deep downturn in sales and shore up cash.
(Reporting by Poornima Gupta; editing by John Wallace)
