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Cars Blog

Sources: GM to pick Magna for Opel

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September 10, 2009 9:38 am
By Peter C. T. Elsworth

BERLIN -- Two German officials told The Associated Press on Thursday that General Motors Co. will recommend selling its Opel unit to Canada's Magna International Inc.

The officials spoke on condition of anonymity because the decision had not yet been made public. They said the deal with Magna and Russian bank Sberbank would be subject to certain economic conditions they did not further specify.

The Opel Trust overseeing Opel scheduled a press conference later in Berlin while GM Europe said it would brief reporters and analysts in a conference call later in the day.

Adam Opel GmbH employs more than 49,000 people in Europe.

Magna would not confirm that it was buying Opel and neither would the Opel Trust. GM officials could not immediatley be reached.


ould the Opel Trust. GM officials could not immediatley be reached.


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