General Motors Co. will enter into the latest of a series of alliances in key overseas markets after agreeing to sell control of its German carmaker Adam Opel GmbH.
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The fate of General Motors’ Opel brand has yet to be decided, but Carl-Peter Forster – GM’s Europe president – feels that Magna is the leading bidder for the German brand. Canadian supplier Magna is currently in a bidding war with Belgian investor RHJ International for the Opel brand.
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General Motors Corp. has increased its negotiating options for its German subsidiary Adam Opel GmbH by obtaining a second offer from Beijing Automotive Industry Corp.
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