General Motors Will Sign The Opel-Magna Contract Next Week

Despite the failure between Penske and General Motors regarding the Saturn brand, things seem to be going pretty well with the Opel-GM-Magna sale. It was said that the final contracts should be signed next week, where the deal could be closed by as early as the November month.

Sources have said that the “signing is planned soon,”

Alongside the signing of the contracts, Magna are already in talks with the Union leaders in order to cut around 10,500 jobs in Europe alone. Leaked information stated that Germany would be the most affected region, where they will face about 4,116 employees.

Belgium will see 2,517 jobs lost, while Spain and the UK will lose 2,090 and 1,373 jobs.

Funding wise, things are all in order as the German government will provide 4.5 billion euros to Opel in an attempt to keep jobs in the country.