Sberbank

...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, Berlin, Communism, Magna, and Germany

Germany came under fire from other European governments for offering 4.5 billion euros in state aid to support GM's original plans to sell Opel, which includes Vauxhall in Britain, to Canada's Magna and Russian lender Sberbank. Other...

In this article: General Motors, Opel, Germany, Europe, Magna, Britain, Bochum, and Kaiserslautern

...carry out the financing itself," Mr Bruederle said. 'Low blow' GM had been negotiating with Magna and its partner, the Russian bank Sberbank, for months. Last week, it decided to keep hold of Opel, and Vauxhall in the UK, due to...

In this article: General Motors, Opel, Magna, Germany, US, and UK

...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 10 percent stake. German Chancellor Angela...

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

...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, and GM Europe

...backing for a bid for General Motors Europe Sberbank, Russia's largest lender, has announced plans to cut as many as 67,000 jobs, or a quarter of its workforce, within the next five years. Around 27,000 of these jobs will go by the end...

In this article: Magna, General Motors, Europe, and Russia

...readied walkouts after General Motors Co. abandoned the sale of its European subsidiary to parts maker Magna International and Russian lender Sberbank. Klaus Franz, Adam Opel GmbH's top employee representative, called it a "black day" and...

In this article: General Motors Co., Opel, Magna International Inc., Germany, GM Europe, Angela Merkel, and Bochum