Magna to Acquire Opel
Green Car Congress
MAY 30, 2009
The German government has agreed to Magna International acquiring Opel from GM. But 2,500 jobs in Germany could be lost and a UK minister has accepted “there is excess capacity” in GM’s operations. “A GM may keep a 35% stake in the company, while 10% would be owned by Opel employees. Fiat had said it would cut 10,000 jobs.
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