General Motors wants out of Opel, and according to new reports, it is willing to let the German automaker go without receiving any money for it. The only requirement is that the buyer must inject €500 million (around $652M USD) into Opel for operations. While GM CEO Fritz Henderson has said there are six serious investors in discussions for Opel, and that a deal should be done by early May, the fact that GM has said "if you pay the bills you can have it" indicates that GM is ready to work with anyone who's willing to sign.
Making a deal would not only free GM of Opel's current burdens, but the obligations it would have if Opel shuts down under its watch. Another outlet is reporting that Opel sold a range of technologies to GM in 2005 for which it's still owed hundreds of millions of dollars. If GM returned the patents (currently held by the U.S. government), then GM could lower its debt load and Opel would get an asset with which it could secure alternate financing.
[Source: The Local]
Making a deal would not only free GM of Opel's current burdens, but the obligations it would have if Opel shuts down under its watch. Another outlet is reporting that Opel sold a range of technologies to GM in 2005 for which it's still owed hundreds of millions of dollars. If GM returned the patents (currently held by the U.S. government), then GM could lower its debt load and Opel would get an asset with which it could secure alternate financing.
[Source: The Local]
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