Hayes Lemmerz investor Apollo sells more than 3 million shares of company stock

By Lisa Kerner

Charlotte, N.C., April 10 - Hayes Lemmerz International, Inc. investor AP Wheels, LLC sold 3,346,983 shares of the company's common stock to an institutional investor at a net price of $7.07 per share on April 5.

AP Wheels is a vehicle set up by Apollo Management, LP to invest in Hayes Lemmerz.

Following the sale, AP Wheels is the beneficial owner of 17,823 shares of series A preferred stock, which is exchangeable for 100,777 shares of common stock, or 0.3% of the company's outstanding stock, according to a schedule 13D filing with the Securities and Exchange Commission.

Hayes Lemmerz is a Northville, Mich.-based supplier of automotive and commercial highway wheels, brakes and powertrain components.

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