Cars
General Motors is close to signing an memorandum of understanding with RHJ International, a Belgium-based industrial holding company, to sell a stake of its European division that includes Opel and Vauxhall, as talks with Magna International have hit obstacles, the Financial Times reported today. Citing a person close to the sales process, the newspaper said that RHJ improved its earlier bid and that GM was "taking it very seriously" adding that a deal could be signed within a few days.
- Gm Decides To Keep Opel After All, Cancels Sale With Magna
...
- Report Says Opel May Have To Slash European Prices By 40% To Raise Output And Save Jobs
Sounds insane but General Motors' European division, Opel and its sister brand Vauxhall, may have to make huge discounts on their models in order to sell enough cars to save jobs in Germany and meet the terms of the €1.5 billion or $2.07 billion...
- 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...
- 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...
- Red Flag? German Minister Says Chinese Bid For Opel Came Too Late
According to a statement made to the press today by Germany's Finance Minister Peer Steinbrueck, China's Beijing Automotive Industry Corp (BAIC) had submitted an offer for GM's Opel division but the bid came too late for the government to...
Cars
Report Says Opel-Magna Deal Hits Snag, GM Close to Signing Agreement with Belgium's RJH
General Motors is close to signing an memorandum of understanding with RHJ International, a Belgium-based industrial holding company, to sell a stake of its European division that includes Opel and Vauxhall, as talks with Magna International have hit obstacles, the Financial Times reported today. Citing a person close to the sales process, the newspaper said that RHJ improved its earlier bid and that GM was "taking it very seriously" adding that a deal could be signed within a few days. "GM's negotiating team would love to see if we can get two very solid, definitive agreements sketched out from which to choose," the person told FT adding that RHJ's new offer would save more jobs in Germany.
The newspaper reported that one of the problems between Magna, which teamed up with Russia's GAZ and Sberbank to buy a 55 percent of Opel, and General Motors, is that the Austrian-Canadian parts supplier wants to secure access to the Detroit automaker's global technology, on behalf of its Russian partners.
Aside from Magna, it is reported that China's Beijing Automotive Industry Corp is also anticipated to present an improved offer for Opel while Fiat's bid that does not include cash, remains on the table.
Via: FT
- Gm Decides To Keep Opel After All, Cancels Sale With Magna
...
- Report Says Opel May Have To Slash European Prices By 40% To Raise Output And Save Jobs
Sounds insane but General Motors' European division, Opel and its sister brand Vauxhall, may have to make huge discounts on their models in order to sell enough cars to save jobs in Germany and meet the terms of the €1.5 billion or $2.07 billion...
- 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...
- 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...
- Red Flag? German Minister Says Chinese Bid For Opel Came Too Late
According to a statement made to the press today by Germany's Finance Minister Peer Steinbrueck, China's Beijing Automotive Industry Corp (BAIC) had submitted an offer for GM's Opel division but the bid came too late for the government to...