GM agrees to sell businessGeneral Motors Corp. has signed...

BUSINESS DIGEST

July 21, 1994

GM agrees to sell business

General Motors Corp. has signed a definitive agreement to sell all of its starting motor, remanufacturing and forge businesses run by its former Delco Remy division to a venture-capital company headed by former Chrysler Corp. President Harold K. Sperlich. GM had intended to keep a 20 percent stake in the business under a memorandum of understanding signed in November.

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