Magna International recently sent General Motors and Opel an ultimatum, as such, which stated that the Canadian company would not change their bid for the German automaker. The latest reports have now said that Magna has upped their bid to $350 million euro’s up front with another $150 million in a convertible bond. The new bid comes after GM said t hat...

One of the Opel bidders, RHJ has said that they will be able to sell Opel back to General Motors after it completes the restructuring process. Why would this happen? Well, RHJ said that Opel would not be able to exist without GM. “Let us be pragmatic. It won’t work without General Motors,” the CEO of the Belgian private-equity firm, Leonhard...

General Motors has announced that they will only continue Opel negotiations with Magna and RHJ International. GM has said that both companies stand an equal chance to win over the Opel brand, and this means that Chinese bidder, BAIC is out of the race. “We had a good and thoughtful discussion around the key operating metrics and key issues associated with...

Magna International has sent in their final bid for the Opel brand. Magna are currently fighting to gain a 55 percent stake in the company where they will share their force in the company with Russia’s Sberbank. The statement released by the two companies states that there will be a 500 million euro investment by the companies over time. Magna and Sberbank...

Germany’s government has ruled out the change of GM being able to include an option to buy back majority stake in Opel. The German economics minister, Karl-Theodor zu Guttenberg ruled this out when the deal finally goes through. GM executives were not too happy about this and they were hoping to strike a deal with Belgian financial investor, RHJ International...

Chinese manufacturer, BAIC, has made a take-over offer for the Opel brand. It was said that BAIC would pay up to 660 million euros to GM for the Opel brand, where they will then ask for less government money than Magna. BAIC has said that they need 2.64 billion from the German government, where Magna demand 4.5 billion. BAIC said that they would also only be...

Magna International have apparently arranged a few plans for the Opel brand which involves moving the Ampera production to the Ellesmere Port factory which is in Cheshire, outside of the United Kingdom. Magna are apparently thinking that the Ampera is a car that will suit a smaller market, instead of the broader union which would like an electric hybrid. Of course...

It’s recently come to our attention that Magna International are in the lead to the purchase of Opel from General Motors. Although reports about this have been quite fair this week, and last, it’s now suggested that Fiat might actually still be in the race. The German government has not decided on what will happen, and this means that Chinese buyers,...

The German government has finally decided which brand is better suited for Opel, and they chose Magna International. Reports have said that after about six hours of negotiations, General Motors and German government finally came to a decision which stated that Manga would be the best company to take charge of Opel. “I can tell you that a deal has been reached,”...

General Motors’ are still planning to sell their Opel brand in Europe, the only problem is.. To who? The two buyers interested are Magna Steyr and Fiat. If Magna had to win the bid for Opel, the companies plans would allow the Opel brand to provide parts for other automakers. It was said that the Opel brand would help develop cars for automakers if they...