Marelli Holdings pushes back decision on sponsor after talks stall

Marelli Holdings Co., the auto-parts supplier seeking to renegotiate its debt, wasn’t able to decide on a sponsor or business restructuring plans for for its turnaround in its meeting with creditors this week, the company said.

The company, a key supplier for automakers Nissan Motor Co. and Stellantis NV, is now seeking to select a sponsor and finalize a plan next month, spokesman Hiroshi Watanabe told reporters after a meeting with creditors on Tuesday.

KKR & Co., Marelli’s current shareholder, has tied up with India’s Motherson Sumi Systems Ltd. on a proposal, while Bain Capital and Apollo Global Management have joined forces