GM will sell Opel to Magna

Filed under: International markets, Deals, Launches, Management, Industry, Employees, Headline news

If you recall the the US government engineered the bankruptcy and restructuring of General Motors. Negotiations have dragged out for months and now, finally, GM will sell it Opel holdings to Magna and a Russian Consortium of state owned Sherbank and GAZ One component of the plan was for GM to sell off some of its assets to raise cash.

GM will still retain 35% ownership of Opel. Magna and Sherbank would each own 27.5% and Opel employees would hold 10%.

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GM will sell Opel to Magna originally appeared on BloggingStocks on Thu, 10 Sep 2009 19:30:00 EST. Please see our terms for use of feeds.

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