Chinese carmanufacturer BIAC wants 51 percent of Opel.
One of the oldest carmanufacturers of China, BAIC (Beijing Automotive Industry Corp), sent a letter to various German cabinet ministers with the proposal to take a 51 percent stake in Opel, and requests a state guarantee of 2,64 billion euro.
Near the end of May, the German government issued a rescue plan for Opel with the help of the Canadian Magna, but eversince then the talks seem to have no results. The offer of BAIC was already made public. BAIC offers 660 million euro for 51 percent stake in Opel, and requests a state guarantee of 2,64 billion euro. Magna on the other hand requests a state guarantee of 4,5 billion. A 49 percent stake remains in the hands of General Motors.
In the letter the management of BAIC announced that no Opel-factory in Germany will be clossed, but that a loss in work places can not be excluded.
bron: www.hln.be [5-7-2009]
[previous related post:]
May 26, 2009: Biac interested in buying Opel.
