GM boss: US aid can be used to fix Opel if needed
1:20 PM Thu, Nov 05, 2009 | Permalink
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General Motors could tap some of the $50 billion in aid it has received from the U.S. government to help finance its plan to restructure its European Opel unit, GM's top executive said Thursday, according to The Associated Press. But CEO Fritz Henderson said it would do so only if necessary and would try to finance the $4.5 billion (3 billion euros) restructuring with loans from European countries, money generated by Opel and by reducing royalties that Opel pays GM for use of technology. Henderson's statements come two days after GM's board shocked German leaders and labor unions by rejecting a plan to sell 55 percent of Opel to a partnership of Canadian auto parts supplier Magna International Inc. and Russian lender Sperbank. 
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