July 30, 2025 15:05

In Chapter 11 since last month, Marelli Holdings did not receive any superior proposals during a 45-day overbid process officially concluded on July 28 and, as outlined in the company's previously disclosed Restructuring Support Agreement, expects to emerge from Chapter 11 in 2026 under the ownership of its principal lenders: Deutsche Bank, Strategic Value Partners, MBK Partners, Fortress Investment Group and Polus Capital Management.

The court has nevertheless confirmed the procedure and authorized the company to draw a further $130 million from the $1.1 billion debtor-in-possession (DIP) facility laid down in the agreement. The additional funds will allow Marelli to continue serving its customers and fulfilling post-petition obligations to suppliers and other creditors without disruption.

“We are moving forward with future owners who recognize the strength of our business and are committed to pursuing the growth and long-term success of Marelli,” said David Slump, president and CEO of Marelli. “We look forward to working closely with the lender group to ensure a seamless ownership transition upon emergence.”

Formed in 2018 through the merger of Italy’s Magneti Marelli and Japan’s Calsonic Kansei — and controlled since 2019 by investment firm KKR — Marelli filed for Chapter 11 protection with the Delaware Bankruptcy Court on June 12. The move was prompted by mounting margin pressure from tariffs, a drop in orders, structural headwinds in the automotive sector and the need to trim debt that had swollen to nearly $5 billion.

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