BAIC bids for Opel
By Andrew C., 27 Aug, 2010. 0 Comments
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The latest reports show that Beijing Automotive Industry Holdings (BAIC) submitted a non-binding offer to buy Opel/Vauxhall from GM while a biding offer is set to be made these days. Despite the fact Canadian parts supplier Magna already has a deal in place with GM, the American manufacturer confirmed that it is in talks with other interested companies, believed to include BAIC, Fiat and Belgian private equity firm RHJ International. Regarding the Magna deal, its funding partner Sberbank denied the fact that the Opel deal may collapse... Stay tuned because more details will be revealed soon! [via autocar]
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