The General Motors German arm, Adam Opel AG is unlikely to agree deals to sell or form joint ventures for some vehicle parts units until next year, people close to the company told Dow Jones.
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Dow Jones said Opel, trying to cut costs and break even by the fourth quarter of next year, had originally hoped to reach agreements this year on the parts units in Germany and Spain.
Opel spokeswoman Gudrun Langer on Monday confirmed to Dow Jones that negotiations are still ongoing with possible partners.
Dow Jones said that Financial Times Deutschland reported that Opel had rejected the price offered by vehicle industry supplier Benteler AG for one parts unit in Zaragoza, Spain. In talks on another unit, in Kaiserslautern, Germany, potential buyer ThyssenKrupp AG is concerned about the comparatively high salaries Opel workers receive, the newspaper said, according to Dow Jones.
Opel has broken off talks with Benteler but is now negotiating with a smaller Spanish supplier, one person close to Opel confirmed to Dow Jones.
According to Dow Jones, the newspaper also said Opel has abandoned hopes of gaining 500 million euro from the parts units’ sales but Langer declined to comment on this sum.
