Magna International Inc., Canada's largest auto-parts supplier, said on Friday that under its plan for General Motors' Opel unit, GM and Russian partners would each hold 35 percent stakes, while Magna would take 20 percent and employees 10 percent.
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Magna International Inc., Canada's largest auto-parts supplier, said on Friday that under its plan for General Motors' Opel unit, GM and Russian partners would each hold 35 percent stakes, while Magna would take 20 percent and employees 10 percent.
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German Chancellor Angela Merkel and Roland Koch, leader of Opel's home state of Hesse, were due to meet today (22 May) to discuss the three bids submitted on Wednesday for the General Motors' division.
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Russian carmaker GAZ is not looking to acquire a stake in Opel if Canada's Magna International wins the race for Germany's carmaker, the firm said on Friday. Magna is bidding for Opel in alliance with GAZ and Russia's largest bank, Sberbank.
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A fourth bidder has shown an interest in acquiring General Motors' European Opel and Vauxhall brands.
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Sberbank , Russia's largest lender, is considering providing a financial guarantee as part of Austrian-Canadian auto parts supplier Magna International's bid for German automaker Opel, a bank shareholder said on Friday.
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Russia's largest lender Sberbank is discussing the possibility of providing a financial guarantee as part of Austrian-Canadian auto parts supplier Magna International's bid for German carmaker Opel, sources said on Friday.
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Magna International emerged on Friday as a favorite to acquire General Motors' Opel unit after top German officials said the Canadian car parts group had submitted a better plan than rival bidders Fiat S.p.A.
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German Vice Chancellor Frank-Walter Steinmeier said on Friday that out of the three bids for General Motors unit Opel, he wanted the bid by Magna International to be closely examined.
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The premier of Opel's home state of Hesse said on Friday that Austrian-Canadian group Magna International's offer for the carmaker was the most attractive for Germany and that Fiat's rival bid was disappointing.
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Magna International emerged on Friday as a favorite to acquire General Motors' Opel unit after top German officials said the Canadian car parts group had submitted a better plan than rival bidders Fiat S.p.A.
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Fiat S.p.A.'s CEO sees his company in the lead to win in the race for Opel, but a German magazine said parent company General Motors favored other bidders over the Italian automaker.
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Fiat S.p.A. submitted two versions of its offer for General Motors units Opel and Vauxhall, one with and one without a bid for GM's Latin American operations, people familiar with the matter told Automotive News Europe today.
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In today's News Brake: Bumblebee is coming to Chevy dealerships; three suitors remain for Opel; and there's progress on gas engines that run like diesels ... But Wait, There's More!
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Fiat S.p.A. submitted two versions of its offer for General Motors units Opel and Vauxhall, one with and one without a bid for GM's Latin American operations, people familiar with the matter told Automotive News Europe today.
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Fiat S.p.A. submitted two versions of its offer for General Motors units Opel and Vauxhall, one with and one without a bid for GM's Latin American operations, people familiar with the matter told Automotive News Europe today.
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Fiat S.p.A. submitted two versions of its offer for General Motors units Opel and Vauxhall, one with and one without a bid for GM's Latin American operations, people familiar with the matter told Automotive News Europe today.
Full story...
Fiat S.p.A. submitted two versions of its offer for General Motors units Opel and Vauxhall, one with and one without a bid for GM's Latin American operations, people familiar with the matter told Automotive News Europe today.
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Italian automaker Fiat, Canadian parts maker Magna International and Belgian investment firm RHJ International look to be the final three bidders for General Motors' Opel subsidiary.
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Fiat S.p.A. is convinced it has more than a 50 percent chance of succeeding in its bid for General Motors' Opel because it doesn't think the other contenders have the expertise to revive the German automaker, an Italian newspaper said.
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