While Magna is pressing ahead with plans to acquire GM’s European Opel/Vauxhall operations, the deal could still unravel. The process of due diligence and funding issues pose the potential for hiccups.
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Magna International Inc. Co-Chief Executive Siegfried Wolf has said he expects to sign off on a deal to acquire Opel in four to five weeks.
Wolf also said he expects the deal to be completed by September.
However, newly appointed chief trustee Alfred Hagebush said and warned that the process could take up to six months.
Industry sources also suggest that other bidders, including Fiat, continue to monitor progress and that the German government is maintaining discrete contact in case the Magna deal collapses.
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By GlobalData
