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Magna confident of Opel deal by July 15

Magna confident of Opel deal by July 15

The head of Canadian auto parts maker Magna says he is confident a deal to take over carmaker Adam Opel GmbH will be completed by the middle of July.
Magna International Inc. chief executive Siegfried Wolf says his company "wants to come to an agreement by July 15."
Magna and Russian Sberbank signed a nonbinding agreement last month which envisages Sberbank taking 35 percent and Magna 20 percent of the General Motors Corp. subsidiary.
The deal was touted in Russia as a major coup for the country's troubled auto industry. But the German government has said this week it is still talking with other bidders.


Updated : 2021-04-16 02:17 GMT+08:00