GM Europe President Carl-Peter Forster said Saturday that the deal with Magna International Inc. (MGA) is good for the company's future.

Speaking to reporters in the early hours of Saturday, Forster said he doesn't see any risk of further financing problems as the German government is backing the interim period financially.

"The EUR1.5 billion bridge loan is sufficient...if the world economy doesn't totally collapse," Forster told reporters in Berlin.

The German government early Saturday selected Austrian-Canadian car parts maker Magna (MGA) as a partner for General Motors Corp.'s (GM) German Adam Opel GmbH unit, ahead of a likely bankruptcy filing of Opel's parent GM in the U.S.

Magna has teamed up with Russian auto maker OAO GAZ Group (GAZA.RS) and state-controlled OAO Sberbank (SBER.RS) in its bid for Opel.

Forster said Magna presented a sound and viable concept for Opel. He doesn't expect any material changes to the planned shareholder structure laid out by Magna.

According to previous statements, Magna's consortium plans an initial investment around EUR700 million. Under the plan, which is backed by Opel's works council, GM would retain a 35% stake in the company. Sberbank would take a 35% stake as well, with Magna holding 20% and Opel's employees with 10%.

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