GM Europe Chief Hopes For Speedy Opel Purchase

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Samedi 07 nov 2009 | 21:18:14

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GM Europe Chief Hopes For Speedy Opel Purchase - Report

BERLIN (AFP)--The head of GM Europe has said he hopes German carmaker Opel will be bought by Magna International (MGA) by mid-July, adding that the Canadian firm has a "considerable lead" on other possible buyers, a report said Saturday.
"The only thing remaining is for the details to be agreed" between the two businesses, Carl-Peter Forster said in an interview due appear in the Sunday newspaper Frankfurter Allegemeine Zeitung.
"After the meeting of the leaders of General Motors (GM) and Magna, I am absolutely convinced that there will be an agreement," he said.
He didn't specify a date for the signing of the contract but said "it would be great if could be done between now and mid-July."
The German government last month announced a rescue plan for Opel in which 35% of the company would go to the Russian state bank Sberbank (SBER.RS), 20% would go to Magna International and 35% would stay with GM.
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