Magna gets OPEL from GM

[sdifox]

http://www.ctv.ca/servlet/Arti.../20090910?s_name=Autos


I wonder how much of this move is to make sure there is a client for Magna parts.

 

[Iron Woode]

my dad had an Opel GT as a loaner car back in 1971. The car was fun according to my dad.

 

[DivideBYZero]

They've sold a 'majority stake'. They still own 35%.

 

[sdifox]

Originally posted by: DivideBYZero
They've sold a 'majority stake'. They still own 35%.

Magna + bank =55%. Even if the union sides with GM, which is laughable at best (this is German labour we are talking about), it is still only 45%.

They still have a 35% stake in case they want to reverse this. I doubt they will unless Magna loses its shirt.

 

[DivideBYZero]

Originally posted by: sdifox

Originally posted by: DivideBYZero
They've sold a 'majority stake'. They still own 35%.

Magna + bank =55%. Even if the union sides with GM, which is laughable at best (this is German labour we are talking about), it is still only 45%.

They still have a 35% stake in case they want to reverse this. I doubt they will unless Magna loses its shirt.

Yeah, they have sold a controlling stake, I'm well aware of that.