AP sources: GM to recommend Magna for Opel investment

September 15th, 2009 Magna exec says EU won't block Opel dealFRANKFURT — The co-chief executive of Magna International Inc. said Tuesday that he doesn't believe the European Union will block his company's acquisition of a majority stake in Opel.

September 10th, 2009 Sources: GM to pick Magna for OpelBERLIN — Two German officials told The Associated Press on Thursday that General Motors Co. will recommend selling its Opel unit to Canada's Magna International Inc.

September 10th, 2009 Trust approves GM deal of Opel to Magna, SberbankBERLIN — The Opel Trust has given its approval for the sale of General Motors Co's European unit Opel to a consortium of Magna International Inc. and Russian lender Sberbank.

September 10th, 2009 GM: Key issues to be confirmed in Opel dealBERLIN — General Motors Co. says its deal to sell European unit Opel to Magna International and Sberbank will need more government-backed guarantees, but does not anticipate any lengthy delays.

September 10th, 2009 Germany's Merkel confirms Opel sale to MagnaBERLIN — Chancellor Angela Merkel is welcoming General Motors Co.'s decision to sell Opel to Canada's Magna International Inc. She told reporters Thursday that GM chief executive Fritz Henderson had informed her office of GM's plans.

September 10th, 2009 Opel works council chief expects GM decision todayFRANKFURT — The head of automaker Opel's works council in Germany says General Motors Co. is likely to announce its plans for the company's future Thursday afternoon.

August 28th, 2009 Germany: GM decision on Opel probably weeks awayFRANKFURT — Any decision on the fate of General Motors Co.'s European unit Adam Opel GmbH is still probably weeks off, a German government spokesman said Friday. A decision on what GM does with the unit, which includes its British sister brand Vauxhall, would take at least a week and a half, as GM's board is due to meet on Sept.

July 28th, 2009 German governor: Magna adjusts Opel offerBUEDINGEN, Germany — A German state governor who has been involved in talks on Opel's future said Tuesday that Canadian auto parts maker Magna has improved its offer, raising the amount of money it is prepared to contribute immediately. Magna International Inc.

July 27th, 2009 Opel workers want say in sale, prefer Magna bidFRANKFURT — The workers' council at Opel and the country's largest industrial union said Monday they preferred a bid for the German car company from a consortium led by Canadian auto parts maker Magna International Inc., but wanted more say in the process. In a joint statement, the council and IG Metall union said the Magna proposal was "closer to the expectations of workers' representatives" than other bids but that it seeks "improvement and negotiation requirements" in all offers.

July 22nd, 2009 TORONTO - Canadian auto-parts giant Magna and the Savings Bank of the Russian Federation (called Sberbank) have jointly submitted a bid to acquire a 55 percent stake in the troubled General Motors' Opel. Belgium's investor RHJ International and China's Beijing Automotive Industries are the other two bidders.

July 22nd, 2009 Germany reviews Opel offers; states like MagnaFRANKFURT — Germany's government on Wednesday began reviewing the offers for General Motors Co.'s Opel unit, with four states saying they preferred the consortium of Magna and Sberbank. The four German states where Opel has plants have strongly favored the consortium of Canadian auto parts maker Magna International Inc.

July 22nd, 2009 German gov't begins reviewing Opel offersFRANKFURT — The German government has begun reviewing offers for General Motors Co.'s Opel unit, officials said Wednesday, though its decision and the details of a deal are not expected soon. A government official, speaking on condition of anonymity because he is not permitted to talk to the media about the deals, said that GM and government officials were meeting in Berlin.

July 4th, 2009 GM Europe: Talks on selling Opel near completionBERLIN — Negotiations for the sale of General Motors Corp.'s unit Adam Opel GmbH to Canadian autoparts maker Magna are progressing well and should soon be complete, the head of GM Europe said in remarks released Saturday. Carl-Peter Forster was quoted as telling the Frankfurter Allgemeine Zeitung that he hoped the sale of Opel to Magna International Inc.

June 30th, 2009 Magna confident of Opel deal by July 15BERLIN — 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.

June 26th, 2009 Sberbank cautious on OpelMOSCOW — Russian bank Sberbank is warning that its deal to buy carmaker Opel with Canada's Magna International could still fall through, with a deadline to move ahead with the sale looming. Russian news agencies are quoting Sberbank executive Denis Bugrov as saying he "did not exclude the possibility" that the deal might fall short of completion.