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RHJ Admits It Could Sell Opel Back to GM

RHJ International, one of the two bidders who're still in the race for Opel, admitted a few days ago that it could sell Opel back to General Motors after it completes the restructuring process. The reason? It would be impossible for Opel to exist without GM, a RHJ International official was quoted as saying by Reuters.

"Let us be pragmatic. It won't work without General Motors,"
the CEO of the Belgian private-equity firm, Leonhard Fischer, told Frankfurter Allgemeine Sonntagszeitung.

General Motors admitted last week that it continues negotiations for the selling of Opel with Magna and RHJ, indirectly hinting that BAIC, the Chinese manufacturer who also submitted a takeover proposal for the German brand, is out of the deal.

"We had a good and thoughtful discussion around the key operating metrics and key issues associated with the three final offers we received on Monday evening", said John Smith, GM's chief negotiator for the sale of Opel. "We have agreed to continue detailed talks with both Magna and RHJI to secure Opel's future."

However, there are a lot of uncertain things surrounding negotiations, as opinion are still divided when it comes to the preferred bidder for Opel. German Chancellor Angel Merkel for example insisted that Magna's bid is the best Opel could get so negotiations should continue with the Canadian - Austrian manufacturer in the position of favorite bidder.

"There are still a number of questions to be cleared up. But the Magna concept offers excellent starting points," said Merkel at a joint news conference with Medvedev. "It offers Opel a chance and also creates the possibility of establishing a strategic partnership in the car sector with Russia."
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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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