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Opel would stay out of U.S. under Magna

Authors :
Becker, Katharina
Schmidt, Nico
Source :
Wall Street Journal. Europe. June 8, 2009, A4
Publication Year :
2009

Abstract

A consortium led by Magna International Inc. plans to acquire General Motors Corp.'s unit Adam Opel GmbH. The government of Germany agreed to provide 1.5 billion euro to fund Opel's operations while the deal is finalized. The consortium would invest 500 million euro in Opel and receive rights to GM's intellectual property at discount licensing rates. GM would also get 200 million euro in preferred stock and a special dividend. Opel would not enter the U.S. market but is allowed partial access to the Chinese and Canadian markets.

Details

Language :
English
ISSN :
09219986
Database :
Gale General OneFile
Journal :
Wall Street Journal. Europe
Publication Type :
News
Accession number :
edsgcl.201670083