Cars
German newspaper Westdeutsche Allgemeine Zeitung as well as Reuters are reporting that Rainer Einenkel, head of the works council at General Motors' Opel plant in Bochum, Germany, confirmed talks between a high-ranking member of the Abu Dhabi royal family and officials of the German state of North Rhine-Westfalia about a possible investment of the latter in Opel. GM's Opel unit, which also controls the British brand Vauxhall, is looking for ways to secure €3.3 billion in state aid to avoid closing plants and laying off hundreds of workers.
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- Carl-peter Forster Leaves Opel, Bob Lutz Rumored To Chair The German Firm's Board
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Cars
Report: Abu Dhabi Royal Family Interested in GM's Opel unit
German newspaper Westdeutsche Allgemeine Zeitung as well as Reuters are reporting that Rainer Einenkel, head of the works council at General Motors' Opel plant in Bochum, Germany, confirmed talks between a high-ranking member of the Abu Dhabi royal family and officials of the German state of North Rhine-Westfalia about a possible investment of the latter in Opel. GM's Opel unit, which also controls the British brand Vauxhall, is looking for ways to secure €3.3 billion in state aid to avoid closing plants and laying off hundreds of workers.Speaking with Westdeutsche Allgemeine Zeitung on the possibility of Abu Dhabi becoming a chief investor in Opel, Einekel said, "I would have nothing against it." Einekel also revealed to the newspaper that the BMW Group had talks with officials in concern of Opel's plant in the German city of Eisenach, however he noted that those talks 'had been put on ice'.
The news on Abu Dhabi's interest in Opel comes only a few days after Mercedes-Benz' parent company Daimler announced the sale of 9.1 percent of its stake to Aabar Investments PJSC (Aabar) of Abu Dhabi.
Via: Reuters
- Opel Denies Report That The Next Zafira Will Be Developed By Psa Peugeot-citroën
The more General Motors European division and PSA Peugeot-Citroën deepen their newly formed strategic partnership, the more rumors come out. Earlier today, Germany's Spiegel magazine and Frankfurter Allgemeine Zeitung business daily reported...
- Opel Reportedly Mulling To End Astra Production In Germany In 2015
General Motors' struggling Opel brand may end production of the popular Astra compact model at its Rüsselsheim plant in Germany after the presentation of the next generation model in 2015, according to a report from the Frankfurter Allgemeine...
- Report: Gm Fed Up With Opel, But A Sale Isn’t On The Table
They say, where there’s smoke, there’s fire, and true enough in the case of GM’s relationship with its European subsidiary Opel, there seems to be a lot of smoke piling up lately. Just yesterday, press reports from Auto Bild and...
- 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...
- 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...