EveryJoe » opel division http://www.everyjoe.com Sports News - Tech Reviews - Entertainment - Life Tips for EveryJoe Tue, 24 Nov 2009 22:30:27 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Beijing Automotive Submits Offer for Opel http://www.everyjoe.com/articles/beijing-automotive-submits-offer-for-opel/ http://www.everyjoe.com/articles/beijing-automotive-submits-offer-for-opel/#comments Sun, 05 Jul 2009 02:30:46 +0000 Stephen Kersey http://www.bizzia.com/?p=31626 Post from: EveryJoe

Beijing Automotive Submits Offer for Opel

]]> Beijing Automotive Industry Holding Co. has submitted an offer for General Motors Corp.’s Opel division. The Chinese company’s bid gives the automaker more options in case their negotiations with Magna fail.

Image: Flickr

Image: Flickr

Ontario-based Magna International Inc. was selected by the German government a few months ago as the preferred bidder for Opel. Magna is Canada’s largest auto parts manufacturer. Though the talks between GM and Magna continue, they have be slowed due to disagreements concerning the rights to use GM’s technology.

The German government is backing the rescue of Opel, providing a $2.1 billion (1.5 billion euro) loan to keep the division afloat until the sale is completed.

Friday in Munich, Germany Deputy Economy Minister Jochen Homann said that General Motors is “right to have a second or third option” for selling Opel.

Source: Bloomberg

Post from: EveryJoe

Beijing Automotive Submits Offer for Opel

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