UPDATE 1-US approves GM plans to buy certain Delphi assets

WASHINGTON, Sept 3 (Reuters) - U.S. antitrust officials on Thursday approved plans by General Motors Co to acquire certain assets of bankrupt Delphi Corp.

GM is purchasing Delphi's global steering business and four of the parts supplier's plants it used to own in New York and Indiana.

Delphi hopes to exit bankruptcy at month's end under control of its lenders, which have agreed to forgive nearly $3.5 billion in debt.

GM will assume more than $1 billion in Delphi obligations and waive $2 billion in claims. The automaker also plans to invest $1.75 billion and provide Delphi with loans.

A New York bankruptcy judge approved the Delphi sale in July, and regulatory review continues.

Delphi has been in bankruptcy since 2005.

(Reporting by John Crawley and Diane Bartz; Editing by Lisa Von Ahn) Keywords: GM/DELPHI (john.crawley@@thomsonreuters.com; reuters.com [phone]) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.