Sberbank’s participation in the acquisition of Opel would be meaningless unless it leads to exports of Opel technologies to Russia, CEO German Gref reiterated at the weekend.
Go deeper with GlobalData
Access to Opel technologies had been an important reason for the Russian bank to agree to take part in the deal, Gref said.
Sberbank and Magna International are preparing to acquire Opel from its US parent, General Motors. According to media reports, however, GM is sceptical about the transfer of Opel technologies to Russia.
Gref told reporters that Russia’s largest carmaker AvtoVAZ could be brought into the deal producing parts for a new low-cost car.
“Cooperation is possible … We are very interested to stabilise the situation on AvtoVAZ because it is our big client,” he said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAvtoVAZ has been hit hard by the slump in the country’s car market and plans massive layoffs despite an unprecedented cash injection from the state.
GAZ, part of indebted entrepreneur Oleg Deripaska’s Basel conglomerate, has already said it wants to be an industrial partner in the Magna/Sberbank deal on Opel.
AvtoVAZ, which is 25% controlled by Renault, has had not previously been mentioned as seeking a role.
