Report: GM preparing to sign a contract on selling Opel

The contract signing between General Motors Co. and Magna International and Sberbank will take place next week, according to sources. The deal is meant for GM to sell a majority stake in its European arm Opel to Magna and Sberbank.

The source also said that it would be “realistic” to expect the deal to be signed by the middle of next week. This report is actually consistent with announcements made by GM and Magna officials previously that they aim to get the contract signed by early October and for the sale to formally close by the end of November. Meanwhile, discussions participated in by the companies and Opel union leaders are ongoing.
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sdcarguy - 10/1/2009 2:09:54 PM

+2 Boost

Dumb move. Cars like the one pictured above are exactly what the General needs.
Car business is also driven by scale and GE needs a WW footprint, including Europe.

Joe_Limon - 10/1/2009 2:32:43 PM

+1 Boost

Saturn was based off of selling rebadged Opel's in the American market, look how well they did.

GTR1 - 10/1/2009 2:26:05 PM

+1 Boost

they should keep opel, revise it, refine it, make it a good competitor against Honda and Toyota. buick should be furthermore refined to be situated better under cadillac and things should run smooth.

veyron1001 - 10/1/2009 9:08:27 PM

+2 Boost

You mean bring the brand into the US? It does not need revision.

tango - 10/1/2009 9:42:10 PM

+1 Boost

The problem with using Opel-based models in the US is the cost involved in building them in Europe and then shipping them over. We are in the 21st Century so I truly believe that stampings can be taken to a site in North America and then producing the cars there. Why manufacturers don't think along those lines is beyond me. But separate and apart from that argument, has anybody heard what will happen to Vauxhall in that deal? All we've been hearing about is Opel this and Opel that. Some research into this is needed...