Talks between General Motors and a German government task force on the future of Opel on Tuesday failed to end the stalemate over the spin-off of the US carmaker’s European arm. John Smith, GM’s chief negotiator, pressed the German government for detail on issues including the availability of government loan guarantees to bankroll the bid by RHJ International to buy Opel. But Germany has so far only agreed to offer €4.5bn ($6.4bn) of guarantees for a separate joint offer by Canadian supplier group Magna International and Russia’s Sberbank for 55% of Opel.

This entry was posted by Gwen Robinson on Wednesday, August 26th, 2009 at 4:43 and is filed under Capital markets, M&A, Private equity. Tagged with gm, magna, Opel, RHJ. Edit this entry.