TomServo92 Posted May 29, 2009 Share Posted May 29, 2009 Link Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 29, 2009 Share Posted May 29, 2009 (edited) For its part, Magna will reportedly pour somewhere between 500-700 million euros into Opel, and it plans to cut 10% of the marque's workforce in Germany – about 2,500 employees. Interestingly, GM will reportedly hold on to a 35% stake in the brand, while Opel workers themselves will end up with 10% of the company. No word yet on what will happen to Vauxhall, Opel's UK twin. Ah, GM gets cash and still remains connected to Opel but the liability is significantly reduced. I wonder if the Saturn deal will be similar, that would make sense in the light of this agreement. Edited May 29, 2009 by jpd80 Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted May 30, 2009 Share Posted May 30, 2009 Hmmm... A Canadian auto parts maker with Russian investors for backing that is going to buy a European car company. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 30, 2009 Share Posted May 30, 2009 Hmmm... A Canadian auto parts maker with Russian investors for backing that is going to buy a European car company. Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted May 30, 2009 Share Posted May 30, 2009 Well, I certainly hope they don't drag Magna under. I hope Frank knows what he's doing. Quote Link to comment Share on other sites More sharing options...
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