Magna International

...workforce. GM stunned Berlin and the entire global auto world earlier this month when it pulled a handbrake turn on a deal that would have sold off Opel to a consortium of Canadian car parts maker Magna and Russia's Sberbank. Germany had...

In this article: General Motors, Opel, Wolfgang Schaeuble, Sberbank, Berlin, Communism, Magna, and Germany

...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, GM Europe, Sberbank, and Russia

...manage day-to-day workings. This shouldn't surprise anyone. Forster supported selling Opel to Magna and Russia's OAO Sberbank, which GM management and the board opposed all along. Given his stance on the sale, it's surprising that he has...

In this article: General Motors, Opel, Carl-Peter Forster, Detroit, Europe, U.S., and Email Marketing

...size to make a profit. BACKGROUND NEWS GM late on Tuesday night sent shockwaves through Europe and the car industry by abandoning its planned sale of Opel to Canada's Magna and Russia's Sberbank. The surprise move sparked angry reaction...

In this article: General Motors, Opel, Magna, Germany, US, Europe, Berlin, GM Europe, and Sberbank

...US company fought - and failed - to avoid bankruptcy. Magna emerged as the favoured bidder of the German government, which propped up Opel with promises of state aid and loan guarantees. The Canadian firm was going to take a 55 per cent...

In this article: General Motors, Opel, GM Europe, European Union, Best interests, Bankruptcy, Sberbank, and UK

...of Opel and transfer the stake to a Russian automaker, most likely GAZ. GAZ, Russia's No. 2 automaker, Magna and GM began discussing a production deal three years ago. But the negotiations fizzled after GAZ owner Oleg Deripaska ran into...

In this article: GM, Opel, Magna International Inc., GAZ, John Smith, Russia, Oleg Deripaska, and Vladimir Putin

...Canada and the German government. In September the decision was made to sell Opel and Vauxhall to a consortium of investors that included Canadian-Austrian car parts supplier Magna and Russia's Sberbank. In the original deal, Magna and...

In this article: General Motors, Opel, Vauxhall, Magna, Sberbank, Bankruptcy, Europe, and Germany

...since 1929, except for a period during Germany's Nazi era. The initial plans to sell Opel called for Magna -- along with Russia's Sberbank -- to take over 55 percent of Opel. Opel's employees would own another 10 percent, leaving GM with...

In this article: General Motors, Opel, Magna, Vauxhall, Germany, United States, Europe, and Peter Mandelson

...itself to refinance Opel after the US car giant scrapped plans for a sale of its European business to Magna, the Canadian car parts maker and Russia's Sberbank The reversal by GM's board earlier this week has enraged the governments of both...

In this article: General Motors, Opel, Germany, Magna, Russia, Sberbank, Britain, and US