Finally General Motors will not sell Opel to Great

After a meeting in Detroit, the council of administration of General Motors, he has decided not to sell finally Opel, his European branch, to the Great Canadian company International. The sale of Opel was like the principal point of the agenda in the meeting that there celebrated at the beginning of November in Detroit 13 members of the Council of Administration of General Motors.

Fritz Henderson, the manager of GM, has told by means of a bulletin, that the American group has decided for studying the possible Opel restructuring and has announced that shortly it will present a concrete plan to the German Government. This way, the manager of GM, who till not long ago was defending the option of the sale to Great, has affirmed that they are “conscious of the complexity and scope of this matter, and of the depletion that has provoked all the affected ones”, but that “from the beginning, our target has been to assure the best long-term solution to us for the clients, personnel, providers and concessionaires, and this is precisely what is reflected in the decision that we have adopted today”.

Also, also he declared that they understand that “this decision is the stablest and that of minor cost to assure the future of Opel and of Vauxhall (another mark that was going to be sold) in the long term”.

GM has communicated that the final decision has owed to “the progress of the business conditions” that there have observed in the last weeks, in addition to the importance of two marks, Opel and Vauxhall, which were in sale.

Also, the agreement of sale of Opel to Great was including an agreement that was involving also the German government, according to which the Germany would offer financing to the company for several of thousands of million dollars to attack the restructuring, while Great he was promising to invest 500 million dollars. Nevertheless, GM has chosen to remain with the German branch and attack your own restructuring, in which he thinks that he will end up by investing approximately 3.000 million euros.

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