Report: GM to finalize Opel sale this Thursday
By Andrew C., 26 Aug, 2010. 0 Comments
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General Motors will likely sign the contract regarding the sale of a majority stake in Opel on Thursday, says Automotive News citing sources close to the negotiations. For those who don't know, GM agreed back in September to sell 55% of Opel to Canadian supplier Magna and its Russian partner Sberbank but the deal was put on hold due to the labor union demands for a veto on factory closures but also due to the concerns in the United Kingdom and Spain. Regarding GM, the manufacturer will retain a 35% stake in the German manufacturer while employees will receive a 10% stake in return for 1.2 billion euros in concessions.
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