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German government pledges loan to successful Opel bidder

Germany has said it would be prepared to give a 4.5bn euros ($6.4bn: £3.9bn) loan to carmaker Opel if its favoured suitor is chosen to take over the firm.

Berlin is offering the money if Opel’s US owner, General Motors (GM), sells the German-based business to Canadian car assembly and parts group Magna.

Magna is one of the two remaining bidders for Opel, the other being Belgian financial group RHJ.

GM has yet to make a decision, but its board is meeting again on Friday.

Source: BBC News

Aug 20, 2009MTI
  • GM still confident of Opel-Magna deal
  • New uncertainty over Opel deal
  • Still no decision on GM Europe bidder
  • Three final bids for Opel
  • Standoff between GM and German government over Opel
  • German government will not step in to save Opel jobs
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