GM Europe

...Opel alive since May. Meanwhile, Russia had hoped to gain access to the Western car market through Sberbank, the country's largest state-owned bank, partnering Magna in its acquisition of a 55pc stake in GM Europe. However, in Britain the...

In this article: General Motors, Vauxhall, Opel, Magna, UK, Sberbank, and Russia

...stake in GM Europe SBERBANK, the Russian state-owned lender that took a quarter share in GM Europe last week, is to become the financing arm of a new Russian and Eastern European car manufacturing empire. financing arm of a new...

In this article: Sberbank, Magna International, General Motors, Russia, Opel, Oleg Deripaska, and Uranium

...could be sealed soon. Unite, which had opposed Magna's German-supported restructuring plan for GM Europe because of fears about job and production cuts in Britain, hailed what it called "a fairer deal for the UK". It said that about 600...

In this article: Magna, UK, Opel, General Motors, Berlin, Sberbank, Peter Mandelson, and Germany

...with competitors, especially in Russia. The Opel Trust overseeing Opel scheduled a press conference later in Berlin while GM Europe said it would brief reporters and analysts in a conference call. Opel employs some 49,000 in Europe, 25,000...

In this article: Opel, GM, Magna International Inc., Sberbank, Angela Merkel, Europe, Germany, and Berlin

...11th-hour deal. German ministers announced in the early hours that a consortium involving Canadian group Magna and Russia's Sberbank will go ahead with a rescue of GM Europe, which includes Vauxhall in the UK and Opel. "A solution has...

In this article: General Motors, Magna, Opel, Bankruptcy, Sberbank, Chrysler, Fiat, and Peer Steinbrueck

...deal. Magna has already paid EUR300 million (GBP258 million) in emergency funding to keep GM Europe operating over the summer and it is thought to have offered a further EUR700 million to by a 55 per cent stake in the business. If the...

In this article: Magna International, General Motors, Opel, Sberbank, Oleg Deripaska, Vauxhall, Chevrolet, Frank Stronach, and Russia

...there were plans to move van production from Luton to Russia. Vauxhall's Luton plant employs 1,400 people and is GM Europe's only plant that makes commercial vehicles. Mr Woodley's words came after representatives of Unite voted on...

In this article: Magna International, Opel, Unite, General Motors, Luton, Russia, UK, and London

...giants but a more complex and specialised structure. Magna, the Canadian car components company, is joining Sberbank, a Russian state-owned lender, to mount a takeover of GM Europe. It is a great Kremlin ambition for Russia to regain its...

In this article: General Motors, Alstom, Opel, Electric car, Magna, Fiat, Dell, and Apple

...compact. The deal to sell 55% of GM's European unit to a consortium of Canadian supplier Magna and Russia's Sberbank "is 95% clear," said Carl-Peter Forster, president of GM Europe and chairman of Opel's supervisory board. "The...

In this article: Opel, GM, Carl-Peter Forster, Frankfurt, European Union, and Germany