German Company Offers GM $1.3 Billion To Buy Opel And Turn It Green

The solar-panel maker wants the world's largest carmaker to pay it about 1 billion euros ($1.3 billion) to take over Opel's 25,700 German workers, the Bonn-based company said today in a statement. GM would also have to cut ties with the Ruesselsheim, Germany-based company it acquired in 1929. Solarworld slumped as much as 21 percent in Frankfurt trading.

Solarworld said it could make 250 million euros in cash available and provide 750 million euros in credit lines, pending government approval, to acquire Opel's four German factories and GM's development center in Ruesselsheim.


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91z4me - 11/19/2008 1:15:37 PM

+2 Boost

Wait I am confused is the article saying that the Solar company wants GM to pay it $1.3 billion or it wants to pay $1.3 billion for Opel?

Either way GM would be making a pretty darn bad move to get ride of Opel now that it is making money again after GM supporting it for the early 90s.

Bmw8ter - 11/19/2008 2:59:42 PM

+1 Boost

These guys must be running on the assumption, GM is on the fritz....lets propose buying one of it's better marque's for pennies on the dollar.

woood - 11/19/2008 11:37:58 PM

+1 Boost

IMO, just maintain Chevy and Cadillac and the rest of the brands can be archived.

mini22 - 11/20/2008 12:18:52 PM

+2 Boost

They can compete provided that they are able to pay unions the same wages as non union workers.This has been their inherent problem for decades.Further they need to be smaller(especially GM-They should keep Chevy,Cadillac,Buick and Saturn and either sell or scuttle the rest)and more efficient.