General Motors to sell Opel to Magna soon
General Motors to sell Opel to Magna soon

Carl-Peter Forster, General Motors Europe President informed that the talks for the sale of General Motors Corp.'s unit Adam Opel GmbH to Magna, Canadian auto-parts maker, are in progress and the deal is expected to strike soon.

Forster expects the deal to work by mid July. However, he didn't mention any details on the date.

Though, Dieter Althaus, the premier of the eastern German state of Thuringia foresees a deal between the two companies to hit this very month.

Opel provides work for approximately 1,800 people at its plant in Thuringia.

On the other hand, German government has said it is still in touch with other bidders regardless of the ongoing negotiations with Canadian auto-parts maker.

Although, Magna has an apparent lead, but rival bidders viz. Beijing Automotive Industry Corp and Belgian holding company RHJ International are still expecting for a break-up between General Motors and Magna so that they can negotiate with General Motors again.

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