magna

After a great deal of international haggling, Magna ended up winning the competition for Opel. One of the many questions to be answered now is: How will the deal affect Magna's engineering and assembly business? Even as ...

When GM decided to hand 55% of Opel to Magna, you didn't think the Belgians were just going to have some waffles and call it quits, did you? Oh no. Belgium's prime minister made a call to the EU president about the deal, and the EU Competition Commissioner Neelie Kroes told a Belgian newspaper, ...

Finally, after what seems like an eternity of protracted negotiations, bickering and stalling tactics, General Motors has agreed to sell a majority stake in its European operations to Magna International and its Russian financial partner Sberbank. Under the terms of the deal, 55% of Opel and ...

While General Motors was going through its 42 day bankruptcy period, one of the stories that didn't receive much play was the sale of GM's Opel brand. The major players in the Opel sale appear to be the German government, Canadian supplier Magna and Belgian private investor RHJ International. ...

The battle for Opel has added another front: Opel labor unions at two of the company's German factories retracted an agreement made last year to forgo vacation bonuses. The move demands that General Motors pay the laborers €70 million ($100.2M U.S.) by next week, the amount that they agreed to ...

General Motors was meant to decide who would be the winning bidder for Opel last Friday. But it didn't. Instead, GM asked the German government for more information on federal financial assistance available to buyers. The German government would like Magna to take over Opel as it vowed to retain ...

Belgian investment firm RHJ, once considered a back-up bidder for Opel, is now considered a front-runner – at least according to its own CEO. RHJ head Leonhard Fischer has already told U.K. officials that the company is committed to retaining the Vauxhall name, and speaking to German ...

Over on General Motors' Europe "Driving Conversations" blog, VP John Smith has posted an update on the company's negotiations to sell a majority stake in Opel and Vauxhall. Although no final decision has been made yet, it's looking increasingly likely that the previous tentative agreement with ...

There are five noteworthy parties involved in the negotiations over Opel's fate: GM, the German government, the Opel trust, states with Opel manufacturing plants, and the Opel labor union. The Opel trust is the body created to run Opel after GM's bankruptcy, and consists of five members: a ...

One of the many clauses that General Motors is reportedly trying negotiate into any deal involving majority control of Opel is the option to eventually buy back the stake it is selling. As the theory goes, GM isn't selling Opel because it feels like it doesn't add value – Opel in fact offers ...