RHJ International is promising to make Opel profitable by 2011 and keep its two Vauxhall plants in the UK open as part of its bid for the European business of General Motors, the FT said. The Brussels-listed industrial holding, which has kept a low profile throughout GM’s sale of Opel, confirmed for the first time on Monday that it was “at an advanced stage” of talks with the US carmaker. It is now preparing a final contract to buy Opel, which it plans to present to GM this week, according to a person with direct knowledge of its plans.

This entry was posted by Stacy-Marie Ishmael on Tuesday, July 14th, 2009 at 4:46 and is filed under Capital markets, M&A. Tagged with gm, Opel, RHJ International. Edit this entry.