Russian Prime Minister Vladimir Putin himself has said that at the behest of Magna, Russia's GAZ conglomerate is considering taking a 30% interest in Opel. GAZ, though, has made it clear that it does not want to run or own Opel – what it really seems to want is to have cars to produce at its factory in Nizhny Novgorod. Under such a proposal, Automotive News reports that Magna would take 20% of Opel.
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 follow the
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 worth about $16.8 billion, Deripaska seems perfectly capable of coughing up the $900 millio
Contrary to the reports that surfaced yesterday asserting that Russian automaker GAZ was interested in purchasing Land Rover and Jaguar, a spokesman for the company has officially denied the rumors. Reuters quoted Oleg Deripaska, the billionaire behind Russian Machines, the umbrella corporation that owns GAZ, as saying that, "There is no interest from my company or from our subsidiary Gaz in any
Days after reports that Gorky Automobile Plant (GAZ) owner Oleg Deripaska was interested in purchasing the brand from Ford Motor Co., a spokesperson for the maker of the Volga announced that the automaker is not interested after all. GAZ, she states, is only interested in commercial vehicles and powertra
So far potential suitors looking to purchase Jaguar from Ford have been named out of pure speculation. One such suitor whose interest in Jaguar seems to be gaining traction in the international press is Oleg Deripaska, the sixth richest man in Russia and owner of the GAZ motor empire, Russia's largest automaker. The 38-year-old Russian businessman, whose worth is an estimat