Honigman Represents Chinese Company in Purchase of Delphi Assets

DETROIT, April 7 /PRNewswire/ -- Honigman Miller Schwartz and Cohn LLP
(Honigman) is pleased to announce that a cross-disciplinary team of its
attorneys represented Tempo Group, Inc. in negotiating the principal terms and
conditions of the $100 million acquisition of the remaining pieces of Delphi's
global brake and suspension component business. BeijingWest Industries Co.,
Ltd., the buyer, is a new joint venture based in Beijing, China that is owned
by Capital Iron & Steel Company of China, the Tempo Group, Inc. and a
state-owned investment company of Beijing. W.Y. Campbell & Company, one of
the nation's leading specialty investment banking firms, has called this deal
the "most high-profile acquisition yet by the Chinese in the American auto
industry."

"This was an extremely complicated deal, involving multiple manufacturing
plants and technical facilities located in ten countries and some very complex
legal agreements," said a member of Tempo Group, Inc. "The support from the
Honigman legal team was incredible. They not only provided us with excellent
service but also managed to move the transaction from due diligence to signing
the purchase agreement in a very compressed time frame."

The transaction involved the hiring of approximately 3,000 employees and the
acquisition of machinery and equipment; intellectual property; and real
property interests related to five manufacturing facilities and sixteen
technical centers located in ten countries.

In addition to negotiating the master sale and purchase agreement, Honigman
Partners Phillip D. Torrence (from the firm's Kalamazoo office), Frederick J.
Frank (Detroit), Barbara A. Kaye (Ann Arbor) and Ronald E. Whitney (Detroit)
negotiated the relevant terms and conditions for manufacturing services
agreements in selected jurisdictions; leases from Delphi for periods
subsequent to closing; a transition services agreement; and other ancillary
agreements. The transaction documents were negotiated under a very compressed
timeframe in light of Delphi's bankruptcy proceedings.

Honigman's attorneys coordinated with a network of foreign counsel in each of
the jurisdictions in which the business is conducted, principally China,
India, Mexico, Poland, France and the United States. Honigman's team
consisted of a variety of disciplines, including intellectual property, real
estate, environmental and employee benefits and labor.

About Honigman

Celebrating its 60th year, Honigman is a leading Michigan-based business law
firm with an international practice. Headquartered in Detroit with offices in
Lansing, Oakland County, Ann Arbor and Kalamazoo, the firm has attorneys
practicing in 40 different areas of concentration. Honigman's
highly-credentialed attorneys and staff, along with its customer-service
focus, provide clients in a wide variety of industries timely and
cost-effective counsel.

In 2008, Honigman was named the No. 1 corporate law firm in Detroit for the
third consecutive year by Corporate Board Member magazine and received a No. 1
ranking within the state of Michigan from Chambers USA in four key practice
areas. Honigman received recognition for 62 of the firm's attorneys in the
2008 edition of Michigan Super Lawyers, leading for the second year in a row
with more attorneys in the "Top 100" than any other law firm in the state of
Michigan. The publication also recognized 27 of the firm's attorneys under
the age of 40 as Rising Stars. Honigman was named in 2008 as one of the "50
Best Law Firms for Women" by Working Mother magazine and Flex-Time Lawyers,
LLC. www.honigman.com.

SOURCE Honigman Miller Schwartz and Cohn LLP

Susan S. Sherbow, Honigman, +1-313-465-7048, SSherbow@honigman.com