We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies on the Business Car website. However, if you would like to, you can change your cookies at any time
The start point for the best source of fleet information |
GM has agreed to sell a 55% share of Vauxhall and Opel to car parts firm Magna and its finance partner Sberbank. The deal will also see the Opel/Vauxhall workforce take a 10% share of the new firm.
The remaining 35% of the European car maker will be retained by GM.
In a GM statement GM president and CEO Fritz Henderson said: "The hard work over the past two weeks to clarify open issues and resolve details in the German financial package brought GM and its Board of Directors to recommend Magna/Sberbank.
"We thank all parties involved in the intensive process of the last few months - especially the German government - for their continued support that enables this new venture. I'd also like to thank the Opel and Vauxhall customers for their continued loyalty. GM will continue to closely collaborate with Opel and Vauxhall to develop and produce more great cars, such as the new Insignia and the new Astra."
FOLLOW BUSINESSCAR ON TWITTER
BusinessCar magazine ©2019
Business Car Magazine © 2020 | Business Car is part of NS Media Group.
