Auto News 5

Magna International said on Wednesday it expected to complete its takeover of Opel in September but the German government made clear the door remained open to rival bidders. Full story...

Magna International Inc. is prevented by an agreement with General Motors from selling Opel cars in the United States and, for now, in China, the chairman of the Canadian auto parts company said today. Full story...

Opel has confirmed today that it has received the first draw in the amount of EUR300m from the EUR1.5bn bridge financing agreement with the German government. Full story...

General Motors' manufacturing boss in Europe, Eric Stevens, is one of the two trustees that will run Opel/Vauxhall until the unit is taken over by Magna International, German wire services said Tuesday. Full story...

General Motors' manufacturing boss in Europe, Eric Stevens, is one of the two trustees that will run Opel/Vauxhall until the unit is taken over by Magna International, German wire services said Tuesday. Full story...

International giant Magna finally got its hands on an automaker. After the failed negotiations to buy back Chrysler, Magna is getting a European car manufacturer. Full story...

Magna has issued a statement saying that it looks forward to working with GM, the German governments and other stakeholders as it seeks to 'turn our concept into a reality'. Full story...

With Opel lost to Magna, there is speculation Fiat will eye PSA/Peugeot-Citroen but a deal would be full of complications, according to analysts. Full story...

Magna International Chairman Frank Stronach, who left Europe a virtually penniless toolmaker more than 50 years ago, is returning to fashion an automaking dynasty after clinching a deal for Germany's Opel. Full story...

Magna International Chairman Frank Stronach, who left Europe a virtually penniless toolmaker more than 50 years ago, is returning to fashion an automaking dynasty after clinching a deal for Germany's Opel. Full story...

Magna International Chairman Frank Stronach, who left Europe a virtually penniless toolmaker more than 50 years ago, is returning to fashion an automaking dynasty after clinching a deal for Germany's Opel. Full story...

Swedish carmaker Saab is in a difficult position after being left out of the deal by General Motors to sell its German unit Opel, Prime Minister Fredrik Reinfeldt was quoted as saying on Saturday. Full story...

Swedish carmaker Saab is in a difficult position after being left out of the deal by General Motors to sell its German unit Opel, Prime Minister Fredrik Reinfeldt was quoted as saying on Saturday. Full story...

Fiat S.p.A could turn to France's PSA/Peugeot-Citroen as a potential merger partner after its bid for Germany's Opel failed, but a deal would be full of complications. Full story...

Aurora, ON - Magna International Inc. announced today that, following extensive negotiations over the past several days with various stakeholders, including representatives of German federal and state governments, GM Europe, General Motors Corporation and the US Treasury, it has reached a conceptual framework that should allow Opel to avoid a possible insolvency filing and pursue the restructuring required for its immediate and long-term viability. Full story...

BERLIN (Reuters) -- The budget and finance committees of two German states with large Opel plants on Sunday endorsed a deal with Magna International, General Motors and the U.S. government to save Opel from the bankruptcy of its parent. Full story...

Italy's government is under fire from unions and opposition politicians for not doing enough to help Fiat S.p.A. persuade Germany that the automaker would be the best partner for Opel, the European arm of General Motors. Full story...

Italy's government is under fire from unions and opposition politicians for not doing enough to help Fiat S.p.A. persuade Germany that the automaker would be the best partner for Opel, the European arm of General Motors. Full story...

Swedish carmaker Saab is in a difficult position after being left out of the deal by General Motors to sell its German unit Opel, Prime Minister Fredrik Reinfeldt was quoted as saying on Saturday. Full story...

Fiat SpA could turn to France's PSA/Peugeot-Citroen as a potential merger partner after its bid for Germany's Opel failed, but a deal would be full of complications. Full story...