"It’s the nature of intense negotiations that they go through at least a couple of near-death experiences before they rebound. In this case, we had several. When you look at the complexity of what had to be accomplished in a very short period of time, this isn’t hard to understand," the CEO said in his post.
The official said that the sale of Opel will not affect the manufacturer's operations, as they will continue as usual. In addition, he claims that "the current management structure of GME, reporting relationships and the alignments with GM’s global product group also remain unimpacted by the trust agreement".
Forster took on the European press, whom he cornered for reporting the "surprise" of the additional 350 million euro loan request. Forster said there was no additional amount of financing that was being asked for, but only a simple clarification of the first draw.
"Let me state clearly that this was a misunderstanding of expectations that arose late in the process and was in no way a mistake or manipulation by our finance team lead by Enrico Digirolamo as was stated in a press release by the Labor Bench," Forster added.
The official admitted that the plan is to get a definitive agreement with Magna by July and based on it sign the contract sometimes in September. "We’ve got a very intense several weeks ahead of us to get to a final agreement with our new partners."
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