Opel and Vauxhall sold to Magna International
Angela Merkel, German Chancellor, announced this morning – Mexico time – that two GM subsidiaries: Opel AG and Vauxhall were sold to one of the largest auto parts companies in the world, Magna International. For the time being the amount involved in the operation was not disclosed, London BBC informed.
According to the source, General Motors Company has completed the sale of two subsidiaries, the German Opel and the English automobiles factory Vauxhall to one of the largest auto parts manufacturers, the Canadian company Magna International, negotiations which the German Chancellor strongly encouraged and ended today, a day that will be history for world automotive industry.
An obliged question to Merkel was about the decision Magna will make regarding keeping Opel plants open in Europe and the answer was yes, she said that was the agreement between Magna Canada and the German Government.
Angela Merkel, German Chancellor, announced this morning – Mexico time – that two GM subsidiaries: Opel AG and Vauxhall were sold to one of the largest auto parts companies in the world, Magna International. For the time being the amount involved in the operation was not disclosed, London BBC informed.According to the source, General Motors Company has completed the sale of two subsidiaries, the German Opel and the English automobiles factory Vauxhall to one of the largest auto parts manufacturers, the Canadian company Magna International, negotiations which the German Chancellor strongly encouraged and ended today, a day that will be history for world automotive industry.
An obliged question to Merkel was about the decision Magna will make regarding keeping Opel plants open in Europe and the answer was yes, she said that was the agreement between Magna Canada and the German Government.
Source: Al Volante - 11 September 2009
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10 September 2010
