European Opel dealer association Euroda said Friday it plans to take a stake of around 15% in General Motors Corp.'s (GM) core European brand after the planned spin-off from its troubled parent company, rubber-stamping a plan presented in March.

Euroda Chairman Jaap Timmer said during a telephone conference with reporters that the dealers would expect a representation on Opel's supervisory board if the plan goes through, adding that talks with the company over possible further steps will be held next week.

In March, Opel's dealers said they were willing to help bail out the troubled company by raising around EUR400 million or more from a levy on car sales to fund the investment.

Under the proposal, dealers would contribute EUR150 to the fund from the sale of each vehicle for a period of three years. The Euroda association represents 4,000 dealers with about 120,000 employees.

Company Web site: www.opel.com

-By Christoph Rauwald, Dow Jones Newswires; +49 69 29 725 512; christoph.rauwald@dowjones.com