General Motors says it will maintain deep product-development ties with Adam Opel AG despite a plan to sell a stake in the German subsidiary.
On Friday, May 29, Magna International Inc. appeared poised to take a controlling interest in Opel. The Canadian supplier reached a tentative agreement with GM, sources told Reuters. Fiat has been Magna's main rival in the bidding.
Either way, GM will remain integrated with the German unit it has owned for 80 years.
"Any deal in Europe will include GM holding a significant stake in the new entity," said GM spokesman Chris Preuss. &… Read more