Bankruptcy

GM Board Approves Sale of Opal to Magna

By mcbride

Canadian auto part manufacturer, Magna, appears to be the winning bidder in the long running sale of the German auto maker, Opal, which is now owned by GM.  This should be interesting as it progresses as Saturn?s showrooms are filled with Opal products.  So, as GM unwinds its ownership of various companies which had intertwined relationships, there will no doubt be some changes in the vehicles which populate various showrooms.  On a political note, ?Chancellor Angela Merkel stood to gain from the decision since she had strongly backed a sale of Opel, which employs 25,000 workers in Germany, to Magna.?

Here is a link: http://www.breitbart.com/article.php?id=CNG.95c6bd62ea82a8f950480b6a379a0c3c.881&show_article=1

Michael

Full post as published by Texas Lawyer Blog on September 11, 2009 (boomark / email).