Opel have three bidders, too
May 20, 2009 in Archive
Here’s just a quick update on what’s happening on the other side of GM Europe.
The Financial Times state that Opel have three bidders, being Fiat, Magna, and a Belgian car parts holding company, RHJ International.
All three groups are expected to make offers for the stake by Wednesday’s deadline, two people with knowledge of the deal told the Financial Times on Tuesday.
Additional bids from up to three other private equity and sovereign wealth investors were still feasible but not as likely, one of these people said.
RHJ’s chances were boosted when it was endorsed by Klaus Franz, the head of Opel’s powerful works council, in an interview with the FT.
Wouldn’t it be ironic if Fiat and Magna missed out on both of GM Europe’s properties?
It’s all coming to a close, very soon.
Thanks to PT for the link!
