GM Europe Chief Hopes For Speedy Opel Purchase - Report
04 Juli 2009 - 3:48PM
Dow Jones News
BERLIN (AFP)--The head of GM Europe has said he hopes German
carmaker Opel will be bought by Magna International (MGA) by
mid-July, adding that the Canadian firm has a "considerable lead"
on other possible buyers, a report said Saturday.
"The only thing remaining is for the details to be agreed"
between the two businesses, Carl-Peter Forster said in an interview
due appear in the Sunday newspaper Frankfurter Allegemeine
Zeitung.
"After the meeting of the leaders of General Motors (GM) and
Magna, I am absolutely convinced that there will be an agreement,"
he said.
He didn't specify a date for the signing of the contract but
said "it would be great if could be done between now and
mid-July."
The German government last month announced a rescue plan for
Opel in which 35% of the company would go to the Russian state bank
Sberbank (SBER.RS), 20% would go to Magna International and 35%
would stay with GM.