Gm Board Recommendation To Sell Majority Stake In Opel/Vauxhall To Magna International/Sberbank

655 words - 3 pages

GM to sell 55% stake in New Opel to Magna/Sberbank
Agreement on new ownership structure signals fresh start for New Opel
Employees to hold 10% stake in New Opel
Government supports financing through additional state guarantees
Zurich. General Motors today announced that its Board of Directors supports a bid from the consortium of Magna International Inc. and Sberbank to buy a majority stake in its European Opel/Vauxhall operations.

Several key issues will be finalized over the next few weeks to secure the binding agreements, including the written support of the labor unions to support the deal with the necessary cost restructuring for viability and the finalization of a definitive financing package from the German government. The definitive agreements should be ready to sign within a few weeks, with closing to follow within the next few months. Under the deal, Magna/Sberbank will purchase a 55 percent stake in New Opel; GM will hold a 35 percent stake and employees will ...view middle of the document...

The agreement will keep Opel/Vauxhall a fully integrated part of GM’s global product development organization, allowing all parties to benefit from the exchange of technology and engineering resources. The new ownership structure constitutes a new lean, efficient and independent organization for the Opel and Vauxhall brands. The current portfolio of Opel/Vauxhall cars and the models in the pipeline are a strong basis for future success.

Participating in GM’s global technology development and purchasing organizations secures important economies of scale for Opel/Vauxhall and other GM brands. For example, vehicles that represent new propulsion technologies, such as the Ampera extended-range electric vehicle, can only be brought to market in a joint effort.

“GM operates many joint ventures around the world and has proven in the past that this business model delivers the right balance of independence, innovation and synergies,” said John Smith, GM Group Vice President Business Development. “All parties will work hard to close the deal as soon as possible,” he added.
About General Motors: General Motors Company, one of the world’s largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 219,000 people in every major region of the world and does business in some 140 countries. GM and its strategic partners produce cars and trucks in 34 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling. GM’s largest national market is the United States, followed by China, Brazil, the United Kingdom, Canada, Russia and Germany. General Motors Company acquired operations from General Motors Corporation on July 10, 2009, and references to prior periods in this and other press materials refer to operations of the old General Motors Corporation. More information on the new General Motors Company can be found at Europe, GM sells its vehicles in over 40 markets. It operates 10 vehicle-production and assembly facilities in seven countries and employs about 50,000 people. More information on GM can be found at and GM Europe executive blog at

Other Essays Like Gm Board Recommendation to Sell Majority Stake in Opel/Vauxhall to Magna International/Sberbank

International Electroplated Diamond Wire Market Technology Review & Forecasts to 2020

599 words - 3 pages 2015 Market Research Report on Global Electroplated Diamond Wire Industry is a professional and deep research report in this field. For overview analysis, the report introduces Electroplated Diamond Wire basic information including definition, classification, application, industry chain structure, industry overview, policy analysis, and news analysis, etc.  For international and China market analysis, the report analyzes Electroplated Diamond

Formal Letter To The Head Of The International Bacalaureate

441 words - 2 pages To whom it concerns,I am the Head of the Humanities Department writing in regards to the results for this year's finals, in particular for history. The results were highly irregular and suggest to me considerable inconsistency in the marking.To begin with, it seems unbelievable to me that my best student could only manage a 6 in SL (despite a near-flawless internal assessment and having produced the most proficient essays) and yet another

Appendix E Irb Approval from: Institution Review Board Sent: Wednesday, May 05, 2010 2:37 Pm to: Gouge, William; Mowen, Carol; Garzon, Fernando L. Cc: Institution Review Board Subject: Irb Approval...

759 words - 4 pages APPENDIX E IRB Approval From: Institution Review Board Sent: Wednesday, May 05, 2010 2:37 PM To: Gouge, William; Mowen, Carol; Garzon, Fernando L. Cc: Institution Review Board Subject: IRB Approval 844.042010: A COMPARISON RESEARCH STUDY ON THE USE OF SCHOOL UNIFORMS AND GRADUATION, ATTENDANCE, AND SUSPENSION RATES IN EAST TENNESSEE Dear William, We are pleased to inform you that your above study has been approved by the

To In Parkinson

1563 words - 7 pages Parkinson's patients to improve their ability to perform daily tasks. Intervention is to assist patients in developing self-care routines, taking account of functional mobility, encouraging patients to maintain maximum functional daily activities for as long as possible, adaptive learning techniques to reduce tremor. Key words: Parkinson's disease, occupational therapy, self-care activities Boala Parkinson este o afecţiune lent progresivă

2.2.1. the Importance of International Trade, Economic Integration and Global Markets to Uk Business Organisations

753 words - 4 pages . Many countries are gifted with natural resources; therefore, they can manufacture products with cheaper production cost and sell at cheaper prices. International trade allows countries and customers have more chances to expose services and goods that are not available in their own country. There are many benefits which international trade can bring to organisations. They are as follow: - It helps organisations expand its competitiveness and market

Barriers to International Trade- Non-Tariff Barriers and Infrastructure on Freight Transportation

3091 words - 13 pages Barriers to International Trade- Non-Tariff Barriers and Infrastructure on freight transportation Intro Average applied tariffs on industrial products have declined from 15.5 per cent in 1990 to 7.9 per cent in 2003.[1] Yet, the volume of international trade is still less than one would expect from observed differences in factor endowments, tastes and technology between countries (Trefler, 1995). A possible explanation of the missing

Critically Evaluate Post War Realist Explanation of International Politics with Reference to Power

2541 words - 11 pages ” Introduction The tradition of political realism – realpolitik, power politics – has a long history that is typically traced back to the great Greek historian Thucydides in the fifth century BC. Although dominant attitudes towards realism have varied, realist arguments and orientations have been central to the Western theory and practice of international relations. “In particular, “modern” international society, whether dated from the era

Nobel Prize Winner Jules Hoffmann to Speak at 2016 International Congress of Entomology

593 words - 3 pages Nobel Prize Winner Jules Hoffmann to Speak at 2016 International Congress of  Entomology 1888 PressRelease ­ Dr. Jules A. Hoffmann, winner of the 2011 Nobel Prize in Physiology or Medicine, will be  one of two Nobel Prize winners, along with Peter Agre (2003 Nobel Prize in Chemistry), to speak at the 2016  International Congress of Entomology in Orlando, Florida. Washington, DC­MD­VA­WV ­ Dr. Jules A. Hoffmann, winner of the 2011 Nobel Prize

How to Succeed in University

1079 words - 5 pages How to succeed in university Getting a degree from a university is a stressful process. Some cannot stand the pressure and decide to fool around during the university life till the last year. Or some will pay lots of effort on study, but unfortunately he or she will become insane. Succeed in university can be simple and happy as long as you know the ways. Succeed in university not just concerning about the in school academic results

People's Preference To Migrate To Britain In 1880

2571 words - 11 pages . Political and religious fugitives also came from other European countries with right-wing dictatorships such as Italy, Spain and Portugal. In September 1939 there were a total of 71,600 registered enemy aliens in Britain. On the outbreak of the Second World War the police arrested a large number of Germans living in Britain. A few immigrants decided to return home following the end of WWII but the majority staid in

Granting The Right To Vote To Women In Britain

782 words - 4 pages Granting the Right to Vote to Women in Britain As Britain entered the war in August in 1914, as a display of patriotism, Emmaline Pankhurst instructed suffragettes to stop their campaign and violence and support in every way the government. ==================================================================== World war one gave woman the opportunity to show a male dominated society that they do more than just

Related Papers

Specific Recommendation To Amazon.Com Essay

709 words - 3 pages HISTORY OF VOLLEYBALL Volleyball- a game for two teams, usually of six players, in which a large ball is hit by hand over a high net, the aim being to score points by making the ball reach the ground on the opponent's side of the court. The inflated ball used in volleyball. This was How Volleyball was Introduced – Facts and Information About the Game The game of volleyball, originally called “mintonette,” was invented in 1895 by William G

How To Sell Non Sellers Essay

682 words - 3 pages of package promotions. So the front office associates should be trained on the product knowledge which will help them to sell products and services with more clarity to the customers. A spa owner did a survey and found that 93 percent of the customers were buying products and services only based on the recommendation of their therapists (Capellini, 2010). Most of the spas have incentive schemes for up-selling of products and services. In

How Should The Un Be Reformed To Promote International Peace And Stability In The 21st Century?

2670 words - 11 pages should better "represent" the whole population of the globe, and truly speak for all 'nations.'The Council enjoys distinctive authority under international law and its decisions remain for the most part unchallenged by the World Court or the General Assembly. It's resolutions are binding on all UN member states. Though whilst they are not always obeyed they do to some extent codify the accepted political conduct in the international arena. These large

Introduction To International Business; Global Marketing

1133 words - 5 pages Module 1 - Case Introduction to International Business; Global Marketing November, 30, 2013   Olympic Games have made their innovative image in the field of sports. In 1896, it didn't have such popularity and proper strategy to earn monetary value. After a huge break, a new president Juan Antonio Samaranch appointed in 1980 and he was the first one, who created the financial independent for Olympic. In 1984, Sarajevo OCOG has signed