Germany Proposes Trust To Run Opel Temporarily - EU Mins
29 Mai 2009 - 6:40PM
Dow Jones News
Germany's government is proposing to create a trust to run Opel
for up to six months using a EUR1.5 billion-EUR1.8 billion
government bridge loan, European Union ministers said Friday, after
a meeting in Brussels to discuss the fate of the troubled European
subsidiary of General Motors Corp. (GM).
The trust would be made up of five people: two from GM America,
two from the German government and one independent representative,
ministers said. The trust would run Adam Opel GmbH until its buyer
takes over, they said.
Canadian auto parts giant Magna International Inc. (MGA) now
appears to be favored over Fiat (F.MI) to buy Opel, Italian
industry minister Claudio Scajola said.
-By Alessandro Torello and Matthew Dalton, Dow Jones Newswires;
+32 2 741 1488; alessandro.torello@dowjones.com