GM Agrees to Pay Compensation to Russia's Sberbank
27 Apr 2010, 09:09 UTC · By: Dan Mihalascu / General Motors agreed to pay a compensation to Russian bank Sberbank, after the automaker withdrew at the last minute from negotiations to sell its Opel/Vauxhall European unit. Sberbank, Russia&...
Petrov Offers 15M Euro for F1 Seat
22 Jan 2010, 08:36 UTC · By: Ovidiu Panzariu / Vitaly Petrov is set on making his Formula One debut this season, as he will reportedly pay up to 15M euro to the team that will employ him for the entire duration of 2010. Obviously, the money are ...
Sberbank Wants GM Compensations on Opel Failed Deal
28 Dec 2009, 08:41 UTC · By: Bogdan Popa / Sberbank, the Russian state-controlled bank that backed Magna International in its attempt to take control of Opel, is now asking for compensations from General Motors after the US-based manufacture...
AvtoVAZ Receives Sberbank Loan
14 Dec 2009, 10:05 UTC · By: Bogdan Popa / As part of its efforts to survive the crisis and start its much-debated shake-up, AvtoVAZ managed to secure a $228.6 million bridge loan from Russian state-controlled bank Sberbank. The money will b...
Sberbank Still Considering GM Lawsuit
11 Nov 2009, 08:51 UTC · By: Bogdan Popa / Sberbank, the Russian loser of the huge Opel saga, says the company is still considering a potential lawsuit against the US-based manufacturer General Motors after its decision to scrap the sale pla...
Magna: Life Goes On, Without Opel
6 Nov 2009, 11:31 UTC · By: Bogdan Popa / Even if didn't manage to take over German brand Opel, Magna isn't looking to obtain compensation from General Motors, founder Frank Stronach said in a statement, emphasizing that the Canad...
Opel Unions Agree to Massive Cost Cuts
3 Nov 2009, 16:15 UTC · By: Daniel Patrascu / Another important step was taken today by Opel, at about the same time GM's board will meet and (finally, we hope) decide the German carmaker's fate: Opel unions decided to give the manufa...
Opel Aid to Be Discussed Today
9 Oct 2009, 13:26 UTC · By: Bogdan Popa / Representatives of the German government and officials of other countries hosting Opel plants will meet today in Berlin to discuss the loan packages to be offered in support of the restructuring pro...
Sberbank Plans to Sell Opel Stake
26 Sep 2009, 13:13 UTC · By: Bogdan Popa / While Magna International denied entering negotiations with Chinese carmaker Geely over a potential sale of an Opel stake, Sberbank has already confirmed that it intends to sell its share to a Russi...
Opel Astra to Be Built in Russia
19 Sep 2009, 06:41 UTC · By: Daniel Patrascu / Sberbank, the Russian side of the GM-Magna-Sberbank-Opel affair, announced today that the new generation Opel Astra will be built in Russia, at GM's St. Petersburg plant. Production at the plan...
Sberbank Says Opel Sale Still Undecided
11 Sep 2009, 08:10 UTC · By: Bogdan Popa / Even if General Motors officially announced that it intends to sell 55 percent to Magna and Sberbank, the state-owned Russian bank doesn't think this is a final decision and warns that there ar...
GM Europe President: Magna the Best for Opel!
11 Sep 2009, 06:30 UTC · By: Bogdan Popa / Following the official announcement that General Motors will sell 55 percent of Opel to Magna and Sberbank, GM Europe President and Chairman of the Adam Opel GmbH Supervisory Board Carl-Peter Forste...
GAZ Denies Opel Stake Interest
7 Sep 2009, 08:45 UTC · By: Daniel Patrascu / Russian carmaker GAZ and its owner, Oleg Deripaska, denied having any interest in acquiring a stake in German manufacturer Opel, despite the fact GAZ is Magna's partner in their bid for Opel. ...
GM, Magna, Sberbank to Meet Today
21 Aug 2009, 09:39 UTC · By: Bogdan Popa / Although we're not sure this is the long-awaited end of the Opel selling process, reports are indicating that General Motors will meet with Magna International and its Russian partner Sberbank ...
GM: RHJ Favorite for Opel
29 Jul 2009, 07:57 UTC · By: Daniel Patrascu / As the official announcement regarding the future owner of Opel draws ever closer, the battle between General Motors and German officials heats up, as it is now obvious the two sides favor different...
Sberbank Confident Magna Will Buy Opel This Week
29 Jul 2009, 07:18 UTC · By: Bogdan Popa / Sberbank, Magna's Russian partner who supports the Canadian - Austrian parts manufacturer into buying Opel, says the German government is expected to issue a final decision on the matter by the...
Magna's New Offer for Opel
22 Jul 2009, 08:10 UTC · By: Daniel Patrascu / As announced yesterday, Canadian manufacturer Magna and its partner, Russian bank Sberbank, have submitted their final bid for GM's Opel, in an attempt to acquire a 55 percent stake in the comp...
Russia Will Push for Opel Deal
15 Jul 2009, 14:38 UTC · By: Daniel Patrascu / Seeing their plans of getting control of Opel through the alliance between Sberbank and Magna, Russia and its president Dmitry Medvedev will step in and ask for a final deal between Opel and the all...
GM to Idle Russian Plant
29 Jun 2009, 13:19 UTC · By: Daniel Patrascu / The stalemate in which the deal between GM and Magna seems to have got into is forcing the bankrupt American manufacturer to idle its Russian operations for at least two months. Of course, GM cites ...
AvtoVAZ Not Interested in Opel, Magna
19 Jun 2009, 14:59 UTC · By: Bogdan Popa / Russian automaker AvtoVAZ has no interest in joining forces with Opel or Magna International, the company's president said in a statement for Reuters. "No one has made us any such offer...