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magnainternational

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    Porsche cancels Boxster/Cayman production contract, Magna wants cash
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    2009 Porsche Boxster S - Click above for high res image gallery
    Shortly after the Boxster debuted in 1996, Porsche contracted with Valmet Automotive of Finland as a second production source for the sports car, and a few years later, employed the facili along with the Cayman coupe. In 2008 Porsche ...

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    Porsche to pull Boxster production from Magna over Opel stake?
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    2009 Porsche Boxster S – Click above for high-res image gallery
    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 ...

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    BREAKING: GM board recommends coughing up 55% Opel stake to Magna, Sberbank
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    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 ...

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    Opel fate still up in the air as Russian involvement reportedly complicates Magna offer
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    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 ...

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    German economics minister reportedly says no to Opel buy-back option for GM
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    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 ...

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    Opel stake could give Russian automaker an injection of "know-how"
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    If you tried telling us even as recently as a year ago that General Motors would be forced to sell its European assets and that a partnership between a Canadian parts supplier and a Russian bank would step up to take the stake, we'd have probably raised a few eyebrows. But such is the state of the ...

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    German government approves majority sale of Opel to Magna, Russians
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    With General Motors expected to file for chapter 11 bankruptcy protection in New York on Monday morning, negotiators in Germany scrambled to finalize a deal to save Opel from insolvency. Following a six-hour meeting in the German Chancellor's office in Berlin on Friday evening, a deal was finally ...

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    BREAKING: BBC says Magna has agreed to take majority stake in Opel from GM
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    According to the BBC News, supplier Magna International has come to terms with General Motors to purchase a majority stake in its European Opel division. While an agreement has been reached between the two parties, the German government – which has agreed to provide financial assistance for ...

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    REPORT: Magna eyeing Saturn
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    Magna tried and lost when Chrysler was for sale. Pulling a Marchionne, Magna's now trying to win GM Europe's Opel division for itself, and rumor is that Saturn is also on the shopping list. GM would get much-needed capital for the transactions, but it could also be facing its old properties as new ...

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    Henderson: Buyer for Opel picked by end of month
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    The Opel brand may be churning out some solid-looking products of late, but the European brand isn't long for the GM world. That isn't news, but the fact that a buyer will be chosen before the end of May is. GM CEO Fritz Henderson promised the quick turnaround of Opel during a Monday news ...

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    Marchionne to Germans: If you have a better offer for Opel, take it
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    Fiat's bid for worldwide domination of the automotive industry has seen a bit of a snag in Germany, where government officials are said to be balking at the Italian automaker's plan to take over GM's struggling Opel brand. Fiat CEO Sergio Marchionne sounds confident that his plan is the best way ...

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    Fiat and Magna emerge as serious bidders for Opel
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    General Motors is looking for outside investment into German automaker Opel, and new reports coming out of Europe indicate that two main bidders have separated from the rest of the pack: Fiat, which we've already heard about, and Magna International. Oleg Deripaska, a familiar name to those who ...

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    Geneva Preview: Magna Steyr unveils flexible Mila EV concept
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    Click above for high-res image gallery of the Magna Steyr mila ev concept
    Amongst all of the various concept and production-ready vehicles that major automakers will unveil this week at the Geneva Motor Show is a new concept from auto supplier Magna Steyr called the mila ev. This electric machine ...

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    BMW and Mercedes talk to Magna about Mila
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    The Magna MILA Alpin concept car shown in Geneva has gotten the attention of both Mercedes and BMW. The button-cute 4-wheeler rode on a flexible platform, could utilize a variety of fuel sources, climb 45-degree angles, and get up to 120 mph. Those capabilities, and the ability to be easily ...

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    From Russia, With Love: Owner of GAZ buys 5% of GM
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    Okay, so maybe GAZ wasn't really interested in buying Land Rover and Jaguar from Ford, but that hasn't stopped Russian billionaire Oleg Deripaska from buying a big chunk of another U.S. automaker. Deripaska is the owner of GAZ and he just bought 5% of General Motors on the open market. Said to be ...

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    Magna's mortgage has been pre-approved, time to close the deal
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    Frank Stronach, founder and chairman of Magna International, has acknowledged that his company is definitely making a bid to take control of Chrysler and that they have the money lined up. Magna is partnering with Onex Corporation to make the bid based on $2 billion in cash reserves from Magna ...

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    Could Magna buy Chrysler and put Bernhard at the helm?
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    Toronto, Ontario based Magna International is the third largest automotive supplier in the world with 2005 sales of $22.8 billion. They have had a long relationship with DaimlerChrylser both in North America and Europe including running an assembly plant in Graz, Austria that builds various ...

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