Opel Buyer to Be Announced by the End of May

The Opel odyssey is slowly but surely coming to an end. And this end might take place as soon as the end of May, according to Fritz Henderson, the newly-appointed General Motors CEO. During a new conference in Detroit, Henderson said that GM is currently negotiating with several interested parties, without making any refference to the over-discussed Fiat and Magna International deals .

“We are speaking with multiple bidders. We would like to have at least some understanding of what the agreement might look like no later than the end of this month, slightly before the end of this month,” Henderson was quoted as saying by Autonews.

A thing worth mentioning is that Henderson says the German government won't be involved in the negotiations but admitted the investor he is going to pick will match the country's requirements. However, the government will still have the final word on the acquisition because it has agreed to provide up to 2.6 billion euros to the ailing brand.

“We are going to make sure any partner we pick is going to be suitable for them (the German government). We need their support," he said. “We have indicated a willingness to move into a minority position. But we need to negotiate something before we say what it is.”

At this time, both Fiat and Magna International are linked with an Opel acquisition but details are still sketchy at this time. However, Magna repeatedly insisted it doesn't eye a majority stake in the German brand but recent reports hinted that the Austrian-Canadian group plans to join forces with several Russian investors to purchase the controlling stake.
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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