Magna not looking at Saab after Opel deal collapse
November 6, 2009 in News
Not that it appeared as a realistic possibility, but I know some were thinking that Magna might have been interested in joining the Koenigsegg Group, or otherwise getting involved in the Saab sale from GM in some form now that the Opel dal is off the table.
That seems to have been hosed down by Magna themselves today:
Magna International Inc is not looking at taking over any other automakers following the collapse of its deal to buy a stake in General Motors Co’s European operations, the auto parts maker’s co-CEO, Don Walker, said on Thursday……
……”We’re not looking at any other transactions in that space,” Walker said in a conference call, responding to a query as to whether Magna might be looking at Ford Motor Co’s (F.N) Volvo unit or GM’s Saab.
“Right now we’re focusing back on the core business, which is automotive parts, and we have no discussions going on right now on any other vehicle-type acquisitions.”
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