GM to sell Opel to Magna by Thursday

With Hummer and SAAB out of the way, General Motors Co. is likely to finalise a deal to sell its European brand Opel to a group led by Magna International Inc., according to reports from Germany.

The deal which was already agreed to more than a month ago hit turbulence with labor union demands for a [...]

No GM buy back of Opel; German minister

Germany’s economics minister has ruled out any attempt by General Motors to include an option to buy back majority control of GM Europe, which produces Opel and Vauxhall vehicles, as part of a deal to give up more than 50 per cent of its German subsidiary in exchange for state aid.

“This is incompatible with our [...]

GM/Magna set target for Opel sale: report

General Motors and Magna International have set themselves a target of agreeing to the sale of a majority stake in GM loss-making European operations by July 15 sources close to the Canadian auto parts group and its Russian partner Sberbank, have told Reuters newsagency.

“There was an agreement that Magna and GM on July 15 should [...]

Magna to buy into Opel – report

Canadian car parts group Magna International has reached a preliminary deal with General Motors to invest in its beleaguered European division Opel/Vauxhall, sources close to the negotiations has told Reuters newsagency today.

The sources said Magna and GM still had to work out details before an expected meeting later today with German Chancellor Angela Merkel.