|
GM ready to keep Opel?
Report says GM ready to keep Opel if EU blocks Magna deal
Posted Monday, Oct 19, 2009, 2:12 pm in Employee News
General Motors Co. is ready to keep control of Opel if the European Union blocks the division’s sale to Magna International Inc., The Wall Street Journal reported Monday, citing people familiar with the matter, Automotive News said.
GM still prefers a sale to Canadian supplier Magna and its Russian partner Sberbank,but GM executives are prepared to move to a Plan B if the deal falls through, the paper reported. The plan would mean GM keeping control of Opel and implementing deeper restructuring actions than Magna is planning, including closure or sale of an Opel car factory in Germany, the story said.
GM still aims to finalize the sale of Opel unit to Magna and Sberbank, Russia’s largest commercial bank, midweek, The Wall Journal Street Journal said, but if forced to go alone, GM would fund Opel’s restructuring by seeking government support or by putting Opel into insolvency, the story said. (Automotive News)
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
|
Linear Mode
