Fiat raises bid to acquire Opel and Vauxhaull from GM
By Andrew C., 26 Aug, 2010. 0 Comments
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The Italian carmaker Fiat has upped its bid to acquire Opel and Vauxhaull from GM. There are reports stating that Fiat has given more details concerning capital contribution and risk-sharing. It is noteworthy that Fiat has made its offer more appealing and has offered more documentation recently. There are three competing bids currently and the German government is evaluating each of them.
Included in the three are Magna, the Canadian car components maker and an investment company based in Brussels called RHJ International. The Italian carmaker has pledged that it will slash less than 10,000 positions if it succeeds in acquiring both Opel and Vauxhall, but will however shut down one of Opel's facilities in Germany. On the other hand, rival bidders RHJ and Magma promised not to close any factories.
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