BAIC out of Opel race! RHJ International and Magna continue the battle!
By Andrew C., 27 Aug, 2010. 0 Comments
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BAIC is no longer in the running to buy GM's Opel/Vauxhall, according to John Smith, the deal's chief negotiator. That is the latest development in the negotiations, which could only be described as a rollercoaster. After the meeting yesterday that was attended by GM, the German government and the three bidders (RHJ International, Magna and BAIC), GM said that the decision has come down to either Magna or RHJ. Smith said that during the meeting, there was a discussion around the key operating metrics and key issues associated with the three final offers. He added that detailed talks with Magna and RHJ will continue and that no quick decision is to be expected.
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