EU warns action will be taken against protectionism in GM’s sale of car unit Opel

September 12th, 2009 EU warns against protectionism in Opel saleBERLIN — The European Union's competition commissioner warned in comments published Saturday that she would take action against any protectionism in the sale of General Motors Co.'s European unit, Opel. The Belgian government wants the EU Commission to investigate the Adem Opel GmbH deal amid concern that Germany may have sought to protect its own plants at the cost of others.

September 11th, 2009 Belgium wants EU to probe Opel-GM decisonsBRUSSELS — Belgium wants the European Union to investigate the sale of General Motors Co.'s European unit Opel amid misgivings Germany allegedly sought to protect its own plants at the cost of others. "I think the German government sought its own advantage," said Belgian vice premier Joelle Milquet after it became clear that the plant in Antwerp would be wound down but none would be closed in Germany.

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 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 AP sources: GM recommends Magna for OpelBERLIN — Two German officials have told The Associated Press 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 8th, 2009 GM board meeting could decide Opel fateFRANKFURT — General Motors Co.'s board is beginning a two-day meeting that could see it decide the fate of its German unit Opel, with German business leaders and politicians hoping any solution preserves jobs. GM has two primary bids for the Ruesselsheim-based Adam Opel GmbH, with German officials, Opel workers and unions endorsing one from Canadian auto parts maker Magna International Inc.

August 25th, 2009 German official: GM still wants to sell OpelBERLIN — A German government official says General Motors Co.'s negotiator has made clear during a meeting with federal and state officials that the automaker is still interested in selling its European Opel unit. The government official says that new management at GM has been requiring more information on the pair of offers, therefore delaying a decision.

July 29th, 2009 GM exec: No preferred bidder for Opel yetBERLIN — The chief negotiator for General Motors Co. says there is no preferred bidder for Germany's Opel — though the negotiations are "coming to a point of decision." John Smith, GM's group vice president and chief negotiator on the sale of Opel, writes in the company's blog that "despite media reports to the contrary, GM has NOT specified its preference for a bidder." Smith's post said that GM is still in talks with a consortium of Magna International Inc.

July 8th, 2009 GM says Chinese company bidding for OpelBEIJING — Chinese automaker Beijing Automotive Industries Corp. has joined the bidding for General Motors Corp.'s German unit, Adam Opel GmbH, a GM spokeswoman said Wednesday.

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.

May 4th, 2009 Minister: Fiat bid would keep 3 German Opel plantsBERLIN — Germany's economy minister says Fiat Group SpA wants to take over General Motors Corp's Opel unit without running up debt and would preserve the three main German assembly plants if successful. Economy Minister Karl-Theodor zu Guttenberg says after meeting Fiat CEO Sergio Marchionne that the deal would require short-term financing estimated by Fiat at some €5-7 billion ($6.6-9.3 billion) Europe-wide.

May 3rd, 2009 Fiat chairman: GM's Opel an "ideal" partnerROME — The chairman of Fiat SpA, which is in the process of acquiring U.S. automaker Chrysler, confirmed the Italian automaker's interest in General Motors' German unit Opel, calling it an "ideal partner" and a possible takeover by Fiat an "extraordinary opportunity." It was the first confirmation from Fiat of its interest in Opel.

May 2nd, 2009 Reports: Fiat head to discuss Opel takeoverBERLIN — The head of Italian carmaker Fiat SpA, which is in the process of acquiring U.S. automaker Chrysler, is continuing talks with German officials about a possible takeover of General Motor's Opel unit, according to media reports Saturday.

February 15th, 2009 BEIJING - China was 'deeply concerned' about trade protectionism, amid fears that such action would aggravate the economic downturn, an official said Monday. Ministry of Commerce (MOC) spokesman Yao Jian told a press conference that China was 'deeply concerned' over protectionism in some countries, which he didn't identify.