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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 Magna, whether they will have enough funds for the project.
In order to receive the 50.1% of Opel stake GAZ has to come up with at least $6.8 billion. Since the two companies are helping in the purchase the shares of the German auto maker will be divided respectively: 31% to Sberbank and 19% to Magna.
The experts admit the partnership between GAZ and Opel would be really successful: they could produce 5 million vehicles per year, 20 percent of which would be sold in the Russian market because many of Opel autos are popular among the people there already. By purchasing the brand, GAZ will be able to reduce the price on the Opel models making them home-made, not imports and to increase the sales. Besides, the popularity of Opel models on the world auto market can help the Russian manufacturer to come to the world arena too.
Article key : Russian Manufacturer Plans to Purchase Opel, Russian Manufacturer, Plans to Purchase Opel, Russian, 2009, 2010
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