The US automaker General Motors (GM) has officially called off the sale of its German subsidiary Opel. The decision of the GM Board of Directors was made in Detroit that evening (local time). Originally the Austrian-Canadian supplier Magna was supposed to take over the majority, but the US parent company wants to reorganize the European business around Opel and the British sister company Vauxhall itself. Speculation had been going on for some time.
Now GM is building on state aid from Europe. "GM will soon present its restructuring plan to Germany and other governments and is hoping for a benevolent examination", announced GM boss Fritz Henderson.
Restructuring for three billion euros
At the same time, the GM boss apologized for the month-long marathon of negotiations about the future of Opel, in which several governments, companies, the Opel works council and the EU Commission were involved: "We understand that the complexity and duration of this topic for everyone Involved was exhausting. " The current decision is the best for customers, employees, suppliers and dealers.