Dana Corporation issues stock to Centerbridge Capital Partners
Clients Dana Corporation
Jones Day advised Dana Corporation, a supplier of axle, driveshaft, structural, sealing and thermal products for global vehicle manufacturers, in the $750 million investment by Centerbridge Capital Partners, L.P. Under the terms of the agreement, Centerbridge will purchase up to $500 million of convertible preferred stock and facilitate an additional investment of up to $250 million in convertible preferred stock.
The investment was subject to Dana's filing of a plan of reorganization and a disclosure statement.