| Submit Your Article | |
| Contact Us | |
| Our RSS Feed | |
| Our Blog | |
|
|
Opel Sale: to Be or not to Be |
Opel deal still remains unsolved and now General Motors thinks about keeping the brand. So far the spokesman of the company says they would not comment anything on Opel story.
Just couple months ago the deal with Magna-VAZ seemed very clear, the companies have agreed on almost all points of the sale, and had to sign the last documents last Thursday, but European Union interfered and did not allow selling German brand to the Canadian-Russian partnership. According to the EU competition head Neelie Kroes Germany was ready to give state aid for Opel recovery to Magna bidding group, but since Russian firm joined them, it changes the conditions and breaks the internal market rules of the European Union.
The American manufacturer still has strong hope that the deal with Magna will work out. This would be the best solution, but if not, GM will be forced to restart Opel sale or keep the brand. If Opel remains in GM possession, it will have to be restructured either with the help of government support or through a hard road of bankruptcy that GM had to undergo itself.
[source]
Add your comment:
Sneak peek: Opel Antara | detnews.com | The Detroit News
If you thought the end of the Saturn brand would affect only car buyers in America, think again. The Opel Antara on the roads today has shared a body and interior with the Saturn Vue. Now that the Vue is going away, the Antara needs a new body double... More »
Magna says Opel could shed 10,500 jobs | detnews.com | The Detroit News
-- As many as 10,500 jobs at Adam Opel GmbH, or about 20 percent of the work force, may be eliminated as part of a restructuring plan for the German carmaker, said the co-chief executive of Magna International Inc., one of the prospective new investors... More »
Russian Manufacturer Plans to Purchase Opel
Russian number-one auto manufacturer, GAZ, is planning to purchase Opel, the brand that was one of the three General Motors planned to sell. At this moment GAZ is talking with its main creditors, Russia’s Sberbank and Canadian auto parts maker... More »
Saab and Opel Will Be Sold Very Soon
General Motors is happy to announce that the sale of Saab and Opel is coming to the final talks. There have been several candidates, but the manufacturer has the number of them to final three for each brand. There have been 10 companies bidding on the... More »
Magna confirms bid for Opel | detnews.com | The Detroit News
Canadian supplier Magna International Inc. said Friday that it had teamed up with Russian financial institution Sberbank Rossii to bid for General Motors Corp.'s ailing German carmaker Adam Opel GmbH. "The offer contemplates a total investment by Magna... More »
More...
