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Article: Opel sale process terminated.
- Article from:
- PR Newswire
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AURORA, ON, Nov. 3 /PRNewswire-FirstCall/ -- Magna International Inc. (TSX: MG.A, NYSE: MGA) today announced that it has been advised by General Motors ("GM") that the GM Board of Directors has decided to terminate the sale process for Opel.
Siegfried Wolf, Magna's Co-Chief Executive Officer stated: "We understand that the Board concluded that it was in GM's best interests to retain Opel, which plays an important role within GM's global organization. We will continue to support Opel and GM in the challenges ahead and wish to thank everyone who supported the Opel restructuring process for their tireless efforts and dedication over the past several months. In ...