Opel-Magna deal not yet done
General Motors' management board will discuss the sale of 55% of Opel and Vauxhall to a consortium led by Magna International at its next regular meeting on 3 November, GM's chief negotiator John Smith has said.
US/GERMANY: GM delays Opel decision to next week
26 October 2009
General Motors' management board will discuss the sale of 55% of Opel and Vauxhall to a consortium led by Magna International at its next regular meeting on 3 November, GM's chief negotiator John Smith has said.
UK: Britain closer to Vauxhall finance deal
30 October 2009
British business secretary Peter Mandelson has said Britain was closer to agreeing finance package to support Magna's takeover of General Motors operations in Europe.
GERMANY: New minister plays down Opel review
30 October 2009
Germany's economy minister has distanced himself from comments by a party colleague who had said the new government in Berlin would review the previously agreed sale of General Motors unit Opel to Canada's Magna.
SPAIN: Opel workers cancel strikes after Magna deal
28 October 2009
Labour unions at Opel's Spanish plant have called off four strike days after workers on Monday approved a deal with the Magna International-led consortium bidding for a majority stake in the automaker, a union spokeswoman said.
GERMANY: GM will not deny Opel political pressure - paper
27 October 2009
General Motors (GM) will not acknowledge that choosing Opel's buyers happened without political pressure, daily Financial Times Deutschland (FTD) said, citing GM sources.
BELGIUM: Opel competition ruling by 27 November
26 October 2009
The European Commission has given itself until 27 November to rule on whether Magna's purchase of General Motors' European arm Opel poses competition concerns, it said on Monday.
SPAIN: Opel workers OK Magna plan
26 October 2009
Workers at the Opel plant in Spain on Monday voted to accept a Magna International plan that would see the loss of 900 jobs, unions have said.
OPEL SALE: Deal rejection could close Spanish plant - minister
23 October 2009
Magna may close Opel's Spanish plant if workers reject a new deal to keep it open at the cost of 900 jobs, Spain's industry minister has said.
OPEL SALE: Deal seen (again) by weekend
22 October 2009
Where have we heard this before? The final signing of Opel's sale to the Canadian group Magna International could take place by the weekend.
BELGIUM: EC will not block Opel sale
21 October 2009
The European Commission will not stop the sale of a majority stake in Opel to a Magna International-led consortium.
SPAIN: Opel workers plans four deal protest strike days
20 October 2009
Workers at Opel's Corsa plant at Figueruelas, near Zaragoza, in Spain will hold four one-day strikes in protest at job and production cuts included in Magna's proposed takeover of the automaker, a union leader has said
GERMANY: Opel Trust chief warns of cash crunch
20 October 2009
Opel Trust chief Fred Irwin has warned the automaker could run out of cash within three months unless a deal to sell a majority stake to the Magna consortium happens fast.
BELGIUM/GERMANY [updated 12:35BST]: Government denies GM-Opel-Magna scrutiny needed
19 October 2009
There is no need to question the decision to provide EUR4.5bn in aid for General Motors' Adam Opel unit and there is no need to repeat the bidding process, German government spokesman Ulrich Wilhelm said on Monday.
GERMANY: GM has Opel 'plan B' ready just in case
19 October 2009
General Motors has a 'plan B' ready should the EU block its planned sale of European unit Opel/Vauxhall, press reports said on Monday.
Opel-Magna not quite yet a done deal
18 October 2009
The Opel-Magna deal seems tantalisingly close to being done, but until it is actually inked the uncertainties remain. The position of the EU on state aid for Opel from Germany's government is the l...
BREAKING: GERMANY [updated 17:50BST]: GM-Magna deal signing close
15 October 2009
Strong signs remain General Motors and Magna International will ink a deal to sell a majority stake in Opel before the end of the week though not, it seems, today.
SPAIN [updated 10:25am]: Magna making new offer to Opel unions today
14 October 2009
After yesterday agreeing a deal with Vauxhall's key union here in the UK, Magna International has altered its offer to Spanish unions at the local Opel unit [near Zaragoza] and will discuss the changes with unions and a government representative on Wednesday (14 October), a Spanish industry ministry spokesman said late last night.
UK: Union deal saves 600 Vauxhall jobs
13 October 2009
After weeks of negotiations, General Motors Europe's UK unit Vauxhall, Magna International and the Unite union have agreed a plan that halves the number of job losses the successful bidder for Opel/Vauxhall had originally proposed.
UK/GERMANY: GM anxious but Magna deal 'on track'
12 October 2009
General Motors wants significant progress this week on the sale of Opel/Vauxhall to Magna International or it might reconsider its options, according to numerous UK media reports over the weekend.
Opel/Vauxhall saga runs on
12 October 2009
I think it's fair to say that the Vauxhall Astra UK media launch at the Ellesmere Port plant (where it is made) last week was a tad overshadowed by the continuing uncertainty facing GM's European o...
GOLDING’S TAKE: Vauxhall mans the barricades as Magna looks for its GME cuts
9 October 2009
Vauxhall has nothing but admiration for UK government business secretary Lord Peter Mandelson in the way that he is fronting the battle with Magna – prospective owner of the haemorrhaging General Motors Europe.
THE WEEK THAT WAS: Magna, Magna and more Magna...
9 October 2009
Unless you've been holidaying on Mars, you'll probably be aware that the word 'Magna' has been popping up a bit in the news this week. Or, as it must seem to legions of auto industry and business writers, for months.
UK [updated 15:45BST]: Vauxhall bigs up Astra as Magna talks continue
9 October 2009
Ordinarily, a major car media launch event in a key market is mostly a product-focused affair but Vauxhall's 2010 Astra debut, based around its Ellesmere Port plant in north-west England, did not manage to stay entirely on-message.
UK: GM reduces Astra build time
9 October 2009
General Motors has squeezed savings of over 25% out of the build time for its redesigned Astra hatchback model, which is just going into production here in the UK at Vauxhall's Ellesmere Port plant.
GERMANY: Opel aid on Friday Berlin meeting agenda
9 October 2009
German government officials were scheduled to meet representatives of other European countries with Opel factories on Friday afternoon in Berlin to discuss potential aid contributions for the European General Motors unit.
GERMANY: Magna wins Merc body order
8 October 2009
Daimler has placed a major order with Opel bidder Magna International to develop and build the aluminium bodies for the upcoming Mercedes SLS AMG gullwing.
UK: Mandelson wants Opel takeover concerns addressed
8 October 2009
Britain's Industry Minister Lord Mandelson has said that Britain 'will not accept' Magna's plan for the takeover of Vauxhall/Opel unless 'shortcomings' identified in a report by PwC are addressed.
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