TOKYO — Troubled Japanese auto parts maker Marelli Holdings on Monday put forward a new restructuring plan centered on a buyout by Indian peer Motherson Group, but the proposal does not appear to have bridged the gap between Japanese and foreign creditors.
Under the private debt workout proposed at the creditors meeting in Tokyo, lenders would relinquish part of their claims across the board while Marelli went under Motherson’s umbrella to bring it back on track toward growth over the medium to long term.
