General Motors has completely returned the German state aid given for local subsidiary Opel, Chancellor Angela Merkel has confirmed.
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GM had paid back the last tranche of the bridge loan to help keep Opel above the water. “The German taxpayers have lost no cent in the course of the Opel operation,” she said at the annual German “Arbeitgebertag” conference in Berlin.
The credit comprised EUR 1.5bn but GM used only EUR1.2bn. The last tranche, now paid back, was EUR400m. According to daily Sueddeutsche Zeitung, the carmaker paid interest of EUR28m.
