Magna, GM, Russian Partners: Opel Sale Details Emerge

BERLIN, May 22, 2009; Christiaan Hetzner writing for Reuters reported that Canadian-Austrian car parts group and asembler Magna said on Friday that under its plan for Opel, U.S. parent GM and Russian partners would each hold 35 percent stakes, while it would take 20 percent and employees 10 percent.

Magna co-CEO Siegfried Wolf said the company intended to keep all four German plants but he would not make any promises for Opel plants in England and Antwerp, where the future was uncertain.