Saturday, April 25, 2009
GM might not profit from sale of European unit
General Motors wants potential investors in a split-off of its European business to give a firm indication of interest within three weeks.
The US carmaker is prepared to make no financial gain while parting with a controlling stake in Opel/Vauxhall providing the buyers invest directly into the new company formed from the European operations.
The Financial Times reported that GM has been talking to more than six financial and industrial groups about acquiring a stake.
The newspaper said GM could retain a minority stake but might still remain the new company's largest single shareholder.
DATED: 25.04.09
FEED: AM
The US carmaker is prepared to make no financial gain while parting with a controlling stake in Opel/Vauxhall providing the buyers invest directly into the new company formed from the European operations.
The Financial Times reported that GM has been talking to more than six financial and industrial groups about acquiring a stake.
The newspaper said GM could retain a minority stake but might still remain the new company's largest single shareholder.
DATED: 25.04.09
FEED: AM
