GM Selling Its Delphi Lighting Unit

General Motors agreed to sell its Delphi Automotive Systems lighting unit to Palladium Equity Partners for an undisclosed amount of stock, GM’s latest effort to shed Delphi’s unprofitable businesses. Closely held Palladium will use the unit to create Guide Corp., a company that will be North America’s largest independent maker of auto headlights and turn-signal lamps, with annual sales of about $665 million and about 4,000 employees. Troy, Mich.-based Delphi is shedding lackluster product lines as it considers selling shares to the public. The moves come as auto makers press parts makers to cut costs by delivering pre-assembled systems instead of individual parts, causing companies to buy and sell units to boost profit. Shares of Detroit-based General Motors rose 13 cents to close at $72.81 on the New York Stock Exchange.