GM and Sale of its Subsidiaries

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Thu 9 Jul 2009 11:53
GM and Sale of its Subsidiaries - skittles
Has OpelVauxhall been sold yet?

What is happening to Saab, Isuzu and other car companies owned by GM such as Daewoo

Edited by rtj70 on 09/07/2009 at 11:59

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Thu 9 Jul 2009 11:58
GM and Sale of its Subsidiaries - rtj70
GM Europe (minus SAAB) have not yet been sold. Magna looked to be front runners with financial backing from a Russian bank. But it's not all agreed and there is a Chinese car company now interested.

SAAB are being sold off to Koenigsegg I believe.

Daewoo (the car company not the conglomerate) were being sold as Chevrolet and I think they would be keeping hold of that.

Modified thread title to better reflect the contents.

Edited by rtj70 on 09/07/2009 at 12:01

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Thu 9 Jul 2009 20:25
GM and Sale of its Subsidiaries - AlastairW
Per yesterdays Autocar GM are having major cold feet on the sale to Magna because of the Russian involvement. They are are worried that the Ruskys will effectively asset strip GM Europe, leaving GM (US) with the useless bits.

Favoured buyer is now Richmount (I think), US venture capitalists that would have to sell their share of GM Europe back to GM (US) when all are returned to profit.
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Thu 9 Jul 2009 20:56
GM and Sale of its Subsidiaries - rtj70
Another reason for cold feet over the Magna deal is the handing over of the IPR of the platforms etc (I believe). But the Chinese deal does not protect the European factories the same.

Still a bit of a worry and potential mess.
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