Magna International has said it would continue to "support" Opel and GM after the US automaker decided to retain and restructure the European unit.

Magna co-chief executive officer Siegfried Wolf said in a statement: "We understand that the board concluded that it was in GM's best interests to retain Opel, which plays an important role within GM's global organization.

"We will continue to support Opel and GM in the challenges ahead and wish to thank everyone who supported the Opel restructuring process for their tireless efforts and dedication over the past several months.

"In particular, we wish to thank our partner, Sberbank, for its significant contribution and support throughout this process."