GM chooses Magna as Opel buyer (Dealscape

The General Motors Co. board said Thursday it recommended Canadian auto parts supplier Magna International Inc. as the buyer of a 55% stake in its Adam Opel GmbH unit, ending months of tortuous debate over which bidder should take GM's European business or whether it should be sold at all.

GM will ask a trust that controls Opel to approve a sale to Magna, which has teamed with Russian lender Sberbank and carmaker Gaz OAO for the purchase. Under the terms of GM's proposal, the once-bankrupt U.S. automaker will retain a 35% interest in the business, and Opel employees will own 10%.

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256 articles related to Magna International Inc.
147 in-depth reports of Auctions in the Automotive sector
140 articles related to Adam Opel GmbH
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NOT A SUBSCRIBER? GM chooses Magna as Opel buyer Posted on September 10, 2009 12:35 PM The General Motors Co. board said Thursday it recommended Canadian auto parts supplier Magna International Inc. as the buyer of a 55% stake in its Adam Opel GmbH unit, ending months of tortuous debate over which bidder should take GM's European business or whether it should be sold at all. GM will ask a trust that controls Opel to approve a sale to Magna, which has teamed with Russian lender Sberbank and carmaker Gaz OAO for the purchase. Under the terms of GM's proposal, the once-bankrupt U.S. automaker will retain a 35% interest in the business, and Opel employees will own 10%. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 256 articles related to Magna International Inc. 147 in-depth reports of Auctions in the Automotive sector 140 articles related to Adam Opel GmbH 89 in-depth transaction records for General Motors 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Skadden Arps Pinnacle Foods Concho Resources Agrium Inc. Birds Eye Cantor Fitzgerald Credit Suisse Windstream Corp. Goldman Sachs		EXISTING USERS Username Password Forget your password? Missing a product?

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