Magna International

General Motors drops Magna deal and decides to keep Opel The board of General Motors decided to keep Opel, undoing months of negotiations to sell its European unit to a Russian-backed group led by Canadian auto supplier Magna. GM confirmed...

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

...($4.9 billion), those involved in talks said on Monday. General Motors this month backtracked on plans to sell Opel to a consortium led by Canadian car parts manufacturer Magna <MGa. TO>, but needs government aid to keep Opel in business.

In this article: Opel, General Motors, Brussels, Bankruptcy, Magna, European Union, and Neelie Kroes

GM scraps sale of Opel and Vauxhall to Magna Surprise U-turn on deal to save European operations The board of General Motors last night sensationally scrapped the sale of its European operations, which include Vauxhall in the UK, after...

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

GM kills Opel sale to Magna The logo of an Opel car dealer is pictured in Himmelkorn, near Leipzig Aug. 9, 2009. REUTERS DETROIT - General Motors Co. said Tuesday it will keep its European Opel unit and restructure it instead of selling...

In this article: GM, Opel, European Union, Chevrolet, Europe, GM Europe, Cadillac, and Sberbank

...this month by deciding to not sell the majority of its European operations Opel and Vauxhall to a consortium led by Canadian autoparts maker Magna International Inc. and Russian lender Sberbank. GM Europe workers were also prepared to buy a...

In this article: GM, GM Europe, European Union, Angela Merkel, Opel, Frankfurt, Revenue, Sberbank, and Magna International Inc.

...brand will continue to keep its headquarters in Zurich. Last week, GM called off the planned sale of Germany-based Opel to car parts maker Magna and Russian lender Sberbank. German Chancellor Angela Merkel had favored that deal to save...

In this article: GM, Opel, Angela Merkel, Germany, Zurich, All rights reserved, Chevrolet, Sberbank, and Magna

...by the German government. Merkel's government had provided GM with $2 billion in bridge loans, which GM is ready to repay, and had offered more than $6 billion in loan guarantees to help finance the Magna-led deal. GM estimates the cost to...

In this article: GM, Opel, Angela Merkel, Magna International Inc., Germany, and Detroit City Council

...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

...Commission. Reilly, GM's head of international operations, was put in charge of Opel and its British business Vauxhall after GM scrapped its plan to sell control of the carmaker to a consortium led by Magna International Inc. That plan had...

In this article: GM, Opel, Magna International Inc., European Union, Germany, United States, Europe, and Gunter Verheugen