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GM: Firm agreement over Opel due soon

Posted on October 13, 2009 4:30 PM
Canadian automotive parts maker Magna International Inc. and partner Sberbank may sign a binding purchase agreement for Adam Opel GmbH this week as a political firestorm continues to rage over Germany's role in negotiating the sale.

The pair in August agreed to take control of Opel from parent General Motors Co. in exchange for leading and financing a restructuring that will eliminate 10,500 jobs.

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