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Beijing Automotive bids for GM’s Opel unit

Posted Monday, Jul 6, 2009, 11:50 am in Employee News
Last modified on Monday, Jul 6, 2009, 11:52 am.

General Motors Corp. has increased negotiating options for its German subsidiary Adam Opel GmbH by obtaining a second offer from Beijing Automotive Industry Corp., The Detroit News reported.

GM already is in talks to transfer control of cash-strapped Opel to a consortium led by Canadian supplier Magna International Inc. after concluding a preliminary deal on May 30, the paper noted. But those discussions have hit stumbling blocks, with negotiators unable to agree on issues such as safeguards for GM and Opel proprietary technology, the News said.
 
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