The story of Beijing Automotive’s interest in European vehicle manufacturers continues to unfold.
This is a rather poor Googletrans from a German publication, FAZ.net, which includes a little info on BAIC and who’s been representing them.
Meanwhile, BAIC [unknown trans] a large German bank with the mandate to safeguard their interests in order to – in spite of the expiry dates of previous bidders – yet to be considered. BAIC is already a partner of the German auto group Daimler. Among the Chinese leadership to be Opel brand will be occurring globally, there is no product overlap. BAIC wants information from this newspaper after 4 billion euros in loan guarantees. The bid is the support of the sole shareholder, the City of Beijing.
What that’s saying is that BAIC have been working through a large German bank, making them a faceless part of the negotiations.
Now if you’ll remember back to last week, there were stories around of a German bank being one of the three bidders for Saab. GT.se had them pegged as a front for General Motors, which I’ve dismissed here several times.
But this makes sense now. Saab had a Chinese bidder. That much I know. GT.se and AMS heard that a German bank was representing someone.
I think FAZ.net in persuing the Opel story have cracked they mysterious German bank and who they’re representing in the Saab story.