GM to delay the announcement of a buyer Opel
By admin at 31 July, 2009, 6:13 pm
Negotiations between General Motors (GM) and the two rival contenders for the purchase of control of its German Opel branch could take even longer than expected, said a member of the German government to save the group automakers Thomas Schaeffer.
The process simply is not enough progress to date, - he said.
Schaeffer believes it unlikely that a meeting of the new board of directors of GM, scheduled for August 3, will take place. Some observers think it possible that it will be decided in favor of one of the potential buyers - RHJ International and Magna.
Formerly head of the delegation of the American automakers, John Smith reported that he expects the closing of the transaction by the end of September.
Recall July 20, GM received the final bids from three bidders for the purchase of a European division Opel /Vauxhall - from Magna and the Savings Bank, the Belgian and Chinese RHJ BAIC. July 23, the company said that is excluded from the negotiations, the Chinese company BAIC.
Recall also that the alliance Magna and the Savings Bank has changed its proposal to buy Opel. The new proposal provides that Magna International and Sberbank will belong to 27,5% stake in Opel, and not by 20% and 35% respectively, as previously reported. Partners are planning to invest in the company of about 700 million euros in return hoping to receive assurances from the Government of Germany in the amount of 4.5 billion euros.
As reported, the Government of Germany is leaning towards selling Opel Sberbank and Magna. The government hinted leadership GM, which, if it will sell its European automobile anyone else, Germany may abandon the proposal for state aid automakers. In support of the Savings Bank, and Magna were the German authorities and the land on whose territory the plant automakers Opel.
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