General Motors in Spain is remaining tight-lipped as to whether it has secured EUR160m (US$191m) in financial guarantees from the Aragon regional government.
However, sources within the Aragon administration told just-auto it would provide GM’s Opel division with the EUR160m in loan guarantees that would allow the automaker to restructure.
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However, GM in Spain declined to elaborate on whether or not the figure was correct. “We are not confirming because the government of Aragon has to [do] that,” a local GM spokeswoman said.
But GM was able to confirm it had also requested assistance from the Spanish government as well as the regional sources. “The government has the last word – there is a procedure with the European Union and and procedure as well here internally in Spain,” the spokeswoman said.
The manufacturer is equally waiting on a decision from the German economics ministry if it will grant EUR1.3bn in loan guarantees.
Opel has a Corsa/Combo/Meriva plant in Zaragoza, northern Spain.
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By GlobalDataThe Spanish ministry of industry was not immediately available for comment.
