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Article: Business Digest
- Article from:
- The Washington Post
- Article date:
- October 17, 2009
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AUTOMOTIVE
The European Commission voiced concern Friday over Germany's
planned aid for a consortium led by Magna to take a majority in
carmaker Opel and suggested that General Motors be allowed to
"reconsider" the deal.
GM is expected to sell a majority of Opel to Canadian auto-parts
maker Magna International and Russian lender Sberbank -- a
consortium heavily favored by Berlin -- under a deal announced in
September.
Germany offered aid worth $6.7 billion to support the deal, and
hopes other European countries that have Opel plants will contribute
to financing that. Adam Opel GmbH has its headquarters in
Ruesselsheim, Germany. The deal would see the consortium take a 55-
percent stake ...