Cars
Citing an unnamed source close to the negotiations, Reuters reported on Friday that General Motors has reached a preliminary deal with Canadian auto parts supplier Magna International on the sale of Opel and Vauxhall. "We have an agreement in principle between GM and Magna," the source was quoted as saying. The two sides are said to have reached a tentative agreement and are now scrambling to work out the details before meeting with German Chancellor Angela Merkel later on Friday to sign a memorandum of understanding. Earlier today, Italian carmaker Fiat S.p.A pulled out of the talks with the German Government in Berlin over a financing dispute.
- Carl-peter Forster Leaves Opel, Bob Lutz Rumored To Chair The German Firm's Board
GM Group vice president and CEO of Opel, Carl-Peter Forster has left his post as the head of the company's European operations only three days after GM's decision to terminate a deal to sell its Opel unit to Magna. While neither side gave a reason...
- Smart Distributor Reported To Have Won Bid For Gm's Saturn Brand
The Penske Automotive Group, a car retailer that operates mostly in the U.S. and the UK and has the distributing rights for Daimler's Smart cars in the States, is the winning bidder for GM's Saturn unit, Bloomberg reported Friday morning. Citing...
- Magna Says Gm Agreement Forbids Sale Of Opel Cars In The U.s. And China
Even though General Motors has kept a significant 35-percent stake in its European division, the agreement with Opel's new owner, a Magna-led consortium, does not allow the latter to sell Opel cars in the United States and for the time being, in China...
- Report: Gm's Opel Could Build Cars For Other Makers If Acquired By Magna
And the plot thickens... Citing sources close to Magna International, German newspaper 'Welt am Sonntag' is reporting that if the Austrian-Canadian auto-parts maker wins the battle against Fiat S.p.A. and acquires a controlling stake in General...
- Gm: Opel's New Owner To Be Chosen By End Of May
In a news conference in Detroit today, General Motors CEO Fritz Henderson told reporters that the company will single out a buyer for Opel and its British sister brand Vauxhall, before the end of May. "We are speaking with multiple bidders. We would like...
Cars
BREAKING: Report Claims that GM and Magna Reach Preliminary Deal on Opel - Vauxhall
Citing an unnamed source close to the negotiations, Reuters reported on Friday that General Motors has reached a preliminary deal with Canadian auto parts supplier Magna International on the sale of Opel and Vauxhall. "We have an agreement in principle between GM and Magna," the source was quoted as saying. The two sides are said to have reached a tentative agreement and are now scrambling to work out the details before meeting with German Chancellor Angela Merkel later on Friday to sign a memorandum of understanding. Earlier today, Italian carmaker Fiat S.p.A pulled out of the talks with the German Government in Berlin over a financing dispute.
Via: Reuters
- Carl-peter Forster Leaves Opel, Bob Lutz Rumored To Chair The German Firm's Board
GM Group vice president and CEO of Opel, Carl-Peter Forster has left his post as the head of the company's European operations only three days after GM's decision to terminate a deal to sell its Opel unit to Magna. While neither side gave a reason...
- Smart Distributor Reported To Have Won Bid For Gm's Saturn Brand
The Penske Automotive Group, a car retailer that operates mostly in the U.S. and the UK and has the distributing rights for Daimler's Smart cars in the States, is the winning bidder for GM's Saturn unit, Bloomberg reported Friday morning. Citing...
- Magna Says Gm Agreement Forbids Sale Of Opel Cars In The U.s. And China
Even though General Motors has kept a significant 35-percent stake in its European division, the agreement with Opel's new owner, a Magna-led consortium, does not allow the latter to sell Opel cars in the United States and for the time being, in China...
- Report: Gm's Opel Could Build Cars For Other Makers If Acquired By Magna
And the plot thickens... Citing sources close to Magna International, German newspaper 'Welt am Sonntag' is reporting that if the Austrian-Canadian auto-parts maker wins the battle against Fiat S.p.A. and acquires a controlling stake in General...
- Gm: Opel's New Owner To Be Chosen By End Of May
In a news conference in Detroit today, General Motors CEO Fritz Henderson told reporters that the company will single out a buyer for Opel and its British sister brand Vauxhall, before the end of May. "We are speaking with multiple bidders. We would like...