General Motors plans to build redesigned Opel Astra models at its new plant in the Russian city of St Petersburg from 2010, local managing director Hans Juergen Michel told a conference.
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Russia's largest car maker, AvtoVAZ, could be folded into an alliance with Opel and Canada's Magna International as part of a plan to double Opel's production in five years, the head of Sberbank said.
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Russia's largest car maker, AvtoVAZ, could be folded into an alliance with Opel and Canada's Magna International as part of a plan to double Opel's production in five years, the head of Sberbank said.
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General Motors and Magna International Inc. have set themselves a target to agree by July 15 on the sale of a majority stake in Opel to the Canadian auto parts group and its Russian partner Sberbank, sources close to the talks told Reuters.
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Russia's Sberbank and Magna, which recently signed a framework agreement to buy a 55% stake in Opel, may form an alliance with Russia's largest carmaker AvtoVAZ, Kommersant business daily reported on Wednesday, citing Sberbank president and CEO German Gref.
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Magna International will establish a firewall between its parts business and car business if it succeeds in its bid for General Motors' Opel division, co-CEO Donald Walker told Reuters Television in an interview.
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Opel could still face insolvency despite a preliminary deal the German government struck to rescue General Motors' European unit, German Economy Minister Karl-Theodor zu Guttenberg said on Tuesday.
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Opel could still face insolvency despite a preliminary deal the German government struck to rescue General Motors' European unit, German Economy Minister Karl-Theodor zu Guttenberg said on Tuesday.
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Magna International is addressing several issues in completing the acquisition of General Motors' Opel brand including a clear barrier between the parts and car companies, Magna co-CEO Donald Walker said on Tuesday.
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Opel could still face insolvency despite a preliminary deal the German government struck to rescue General Motors' European unit, German Economy Minister Karl-Theodor zu Guttenberg said on Tuesday.
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Private equity group Ripplewood will step in with a bid for General Motors' Opel and Vauxhall divisions in Europe if Magna International's bid fails, The Times reported today.
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Manfred Wennemer, former CEO of Continental AG, will represent the German government on an advisory board overseeing the trust that administers Opel, sources familiar with the situation said. The trust holds 65 percent of Opel shares.
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Manfred Wennemer, former CEO of Continental AG, will represent the German government on an advisory board overseeing the trust that administers Opel, sources familiar with the situation said. The trust holds 65 percent of Opel shares.
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Does the sale of Opel-Vauxhall to a Magna-led consortium create an orphan automaker that will struggle to compete? Perhaps something more complex and clever is afoot, writes Mark Bursa.
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General Motors is trying to cement an agreement with Magna International to buy its European unit, Opel, but is willing to broaden discussions if necessary, GM CEO Fritz Henderson said.
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General Motors is trying to cement an agreement with Magna International to buy its European unit, Opel, but is willing to broaden discussions if necessary, GM CEO Fritz Henderson said.
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General Motors is trying to cement an agreement with Magna International to buy its European unit, Opel, but is willing to broaden discussions if necessary, GM CEO Fritz Henderson said.
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A team from Magna International, the supplier and contract vehicle assembler currently negotiating to buy General Motors' Opel and Vauxhall units, will arrive in the UK on Monday (15 June) to inspect Vauxhall's operations and books to see if the unit is viable.
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The premier of the eastern German state of Thuringia, Dieter Althaus, said on Friday he is believes that Canadian auto parts group Magna International Inc.'s takeover plans for carmaker Opel would go through.
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Germany is still talking to potential investors in carmaker Opel which have not been made public, German Economy Minister Karl-Theodor zu Guttenberg said today. Since reaching a preliminary agreement with Canada's Magna International Inc.
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