Friday, August 10, 2007
Russian tycoon takes 5% GM stake
A Russian aluminium tycoon, who owns Gaz, which in turn controls British van maker LDV, has acquired a near 5% stake in General Motors.
Oleg Deripaska, Russia's second richest man, bought the £445 million stake in recent months. However, the investment is said to be personal and has not been discussed officially within Gaz's management.
Nevertheless, news of his investment has prompted speculation about future ownership of General Motors, which is in the middle of a major restructuring programme to transform its financial performance.
DATED: 10.08.07
FEED: AW
Oleg Deripaska, Russia's second richest man, bought the £445 million stake in recent months. However, the investment is said to be personal and has not been discussed officially within Gaz's management.
Nevertheless, news of his investment has prompted speculation about future ownership of General Motors, which is in the middle of a major restructuring programme to transform its financial performance.
DATED: 10.08.07
FEED: AW
