Deals
KKR-Owned Marelli to File for Debt Reorganization in Japan
- Auto-parts supplier had $9.5 billion in debt as of September
- Seeks to renegotiate debt via alternative dispute resolution
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KKR & Co.-owned parts supplier Marelli Holdings Co. will file to renegotiate its debts with Mizuho Financial Group Inc. and other lenders via an alternative dispute resolution in Japan on Tuesday, people with people with knowledge of the matter said.
The auto-parts company, created in 2019 when KKR merged its Calsonic Kansei and Magneti Marelli units, will continue to operate while working with creditors on a reorganization, said the people, who asked not to be identified because the information isn’t public. The first meeting among the lenders is set for March 7, they said.