Opel will be bought by the Magna concern

The Austro-Canadian company Magna and the American GM HM auto giant have concluded a transaction on the Opel transition under the control of Magna. The results of the negotiations held in Berlin and ended on Saturday night, the Minister of Finance of Germany, Pierre Steinbryuk, announced the AP agency.

Magna in this transaction acts in a consortium with Sberbank and Gas Group. Under the terms of the transaction, the German government will provide Opel with a short -term loan of 1.5 billion euros ($ 2.1 billion).

The purpose of the agreement is to maintain the operability of Opel, the European unit of the American auto giant General Motors, in the case of bankruptcy of the parent company, which is now on the verge of ruin.

As Magna previously reported, as a result of the transaction, the Canadian company can receive 20%Opel, GM and Sberbank - 35%each, and Opel will retain 10%. The Russian Automobile Producer "GAZ" claims to be an industrial partner. In particular, Gas is ready to provide its capacities for the production of Opel models.

GM should complete the restructuring of its assets until June 1. If by this time the largest world manufacturer of cars cannot significantly reduce costs, he will have to file a lawsuit against his own bankruptcy.

The Italian concern Fiat, the transnational investment Ripplewood and the Chinese car manufacturer BAIC also claimed the purchase of part of the Opel shares. Ripplewood and BAIC “left the distance” following the results of the negotiations in the past Wednesday, then Fiat refused to take part in Friday negotiations, saying that he could not take “special risks”.

"Gas" will be able to provide production of up to 180 thousand cars Opel

The GAZ group will be able to ensure the production of up to 180 thousand cars of the new consortium, which should maintain the operability of Opel, the European unit of the American auto giant General Motors, in the event of bankruptcy of the parent company, which is now on the verge of ruin, the representative of the GAZ group told RIA Novosti on Saturday.

"We are an industrial partner of the consortium. The capacities of the new technological complex in Nizhny Novgorod allow you to organize a joint production of about 180 thousand cars per year with the consortium," said the representative of the GAZ group.

According to the representative of Gas, "thanks to the developed infrastructure of this site and personnel who are trained in Magna, the developed Gaza service network, Opel has the opportunity to expand access to the Russian market."

"For" gas "is the possibility of gaining unique experience and loading production," said RIA Novosti's interlocutor.