autoevolution
 

Abu Dhabi Royal Family Wants Opel...

...not a vehicle, but the entire company. At least this is what the Westdeutsche Allgemeine Zeitung newspaper claims, as it quoted Sheikh Hamdan saying that, even if this is so, "no decision has been taken yet".

The rumors surfaced after the Sheikh said that the meeting he had with North Rhine-Westphalia regional prime minister Juergen Ruettgers last week was "very positive," according to AFP.

Initially, the German government repeatedly said it has no interest in acquiring any part of GM's struggling subsidiary. In the last day of March, however, Deputy Chancellor Frank-Walter Steinmeier said Germany wants a helping hand from EU countries in owning Opel, by purchasing stake of up to 29 percent in the German brand.

So far, as you all know by now, no official decision has been made. The future of the German manufacturer still hangs in the balance and no one knows anymore who is pulling the strings. The Arabian investor theory is (if it will come true), by far, a beacon of light.

Mother company GM says it is currently speaking with industrial groups, sovereign wealth funds and banks (six in all) which are interested in buying stakes in both Opel and Saab. "We are speaking -- for example -- with interested parties from the private equity sector and with sovereign wealth funds," Carl-Peter Forster, GM Europe said in an interview with Der Spiegel.

Such an interest is not a surprise in itself, as it was only last month Abu Dhabi-based investment Aabar company became a shareholder in Daimler after acquiring new shares in the German manufacturer.

Aabar invests in a wide range of sectors, including energy, infrastructure, real estate, automotive and financial services companies. It is owned, through its major shareholder, International Petroleum Investment Company (IPIC), by the Government of the Emirate of Abu Dhabi.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)
About the author: Daniel Patrascu
Daniel Patrascu profile photo

Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
Full profile

 

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories