Lear to Borrow $800 Million

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Lear Corp. said on Wednesday it secured $800 million in new loans, cheering investors who had worried about a liquidity crunch at the troubled auto parts maker.


The company also said it will shift most of its European interior products business to a venture backed by billionaire financier Wilbur Ross in exchange for a 34 percent stake. And in a widely expected move, Lear suspended its quarterly cash dividend.


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