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Another Opel bidder surfaces

Posted Tuesday, Jul 14, 2009, 2:01 pm in Employee News

The New York Times is reporting that yet another bidder for GM’s Opel unit is nearing a deal for the European operations of General Motors.

RHJ International, an industrial holding company listed in Brussels, is claiming it also is talking to GM about acquiring a majority stake in Opel, which includes the Vauxhall’s operations in Britain.

”These discussions have been taking place over a number of weeks and are at an advanced stage,” RHJ said in the story.

Magna International, the Canadian parts company, and Sberbank, a Russian bank, signed a tentative deal to acquire majority ownership of Opel in late May, just before GM entered bankruptcy.

But the New York Times story says those negotiations have been stalled for weeks by disagreements over the future of Opel and rights to its technology. (New York Times)
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