Automotive News / Industry / Future Vehicle Discussion Automotive news and discussion about upcoming vehicles

German economics minister reportedly says no to Opel buy-back option for GM

Thread Tools
 
Search this Thread
 
Old 07-20-2009, 11:36 AM
  #1  
Registered User
Thread Starter
 
95redLT1's Avatar
 
Join Date: Dec 2002
Location: Charleston, WV
Posts: 1,505
German economics minister reportedly says no to Opel buy-back option for GM

http://www.autoblog.com/2009/07/20/r...back-option-f/
One of the many clauses that General Motors is reportedly trying negotiate into any deal involving majority control of Opel is the option to eventually buy back the stake it is selling.

As the theory goes, GM isn't selling Opel because it feels like it doesn't add value – Opel in fact offers huge value to GM and has had lead responsibility for developing the global mid-sized, compact and small car platforms being used by the automaker. Instead, Opel is on the block because the home office needs the cash. Thus, if GM is able to be flush with cash once again, it would like to reserve the right to regain to full control.

According to Reuters, Karl-Theodor zu Guttenberg, Germany's economics minister is having none of that business. In fact, he has apparently told Frankfurter Allgemeine Sonntagszeitung that no such clause would be allowed if Opel is to receive any German government aid. The German government is also wary of any financial groups like Belgium's RHJ International taking a stake – instead, they reportedly prefer an owner with a long term interest in the industry like Magna International.
95redLT1 is offline  
Old 07-20-2009, 11:52 AM
  #2  
Registered User
 
jg95z28's Avatar
 
Join Date: Sep 2002
Location: Oakland, California
Posts: 9,710
Ok, but technically isn't it the "old" GM that's selling Opel, and in fact isn't the "new" GM a different company?
jg95z28 is offline  
Old 07-20-2009, 02:53 PM
  #3  
Registered User
 
Maximum Bob's Avatar
 
Join Date: Aug 2004
Posts: 178
Well it wouldn't matter then as the clause would die along with the "old" GM.
Maximum Bob is offline  
Old 07-20-2009, 08:15 PM
  #4  
Registered User
 
FUTURE_OF_GM's Avatar
 
Join Date: Nov 2001
Location: NC
Posts: 632
GM needs to continue to grow Chevrolet over there to hedge it's bets.
FUTURE_OF_GM is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
Ks0209
LT1 Based Engine Tech
10
10-01-2015 07:32 AM
NewsBot
2010 - 2015 Camaro News, Sightings, Pictures, and Multimedia
0
09-30-2015 04:20 PM
CARiD
Supporting Vendor Group Purchases and Sales
0
09-30-2015 05:44 AM
NewsBot
2010 - 2015 Camaro News, Sightings, Pictures, and Multimedia
0
09-14-2015 02:02 AM



Quick Reply: German economics minister reportedly says no to Opel buy-back option for GM



All times are GMT -5. The time now is 04:27 PM.