GAZ Group: Is "Industrial Partner" For Magna's Opel Bid
21 Mai 2009 - 11:03AM
Dow Jones News
Russian car maker OAO GAZ Group (GAZA.RS) will be an "industrial
partner" in Magna International Inc.'s (MGA) bid for Germany's
Opel, a GAZ spokeswoman said Thursday.
The spokeswoman said the group isn't taking part in the bid, but
that its Nizhny Novogord-based plant could be used for assembling
Opel models.
On Wednesday, General Motors Europe named Magna (MGA), RHJ
International Ltd. (RHJI.BT) and Italy's Fiat (F.MI) as the three
companies in the running to take over its Opel unit.
GAZ Group is Russia's largest maker of vans and minibuses and is
based around 400 kilometers south east of Moscow.
It is controlled by Basic Element, tycoon Oleg Deripaska's
investment holding.
Company Web site: www.eng.gazgroup.ru
-By Will Bland, Dow Jones Newswires; +7 495 937 8445;
william.bland@dowjones.com