This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at General Motors cancela la venta de Opel por mejora financiera y de perspectivas de negocio
General Motors cancelled the sale of Opel by financial improvement and business prospects
04/11/2009
November 4, 2009
Automaker of EE UU General Motors finally not sell Opel to Magna Canadian due to "improvements in business conditions" in Europe. He has also announced a restructuring of the brand the Board of Directors of General Motors was on Tuesday the sale of Opel at its monthly meeting regularly and planned to study if it authorized the signing of the binding agreement with Magna and its partner the State-owned Russian Bank Sberbank.
"In view of the environmental improvement of GM in the past few months and given the importance of Opel / Vauxhall for the international strategy of General Motors, Opel to launch a restructuring of its operations in Europe as soon as possible", as expressed by the company in a statement.
The company will present "soon his plan of restructuring in Germany and also to the Governments concerned, and we look forward to a favourable response", said Fritz Henderson, CEO of the group. In this way, General Motors, is left with the German subsidiary and undertake its own restructuring, which believes that it will invest about 3 billion euros, "figure significantly lower than those covered by the deals" received.
