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’RHJ to buy Kleinwort for £225m
Kleinwort Benson, one of the oldest names in British banking, is to be sold by Commerzbank to RHJ International, a Brussels-listed financial investor, for £225m in cash. The deal caps a long search by RHJ for a European banking business and reunites its CEO Leonhard Fischer with part of Dresdner Bank,
RHJ offers more for GM’s Opel
RHJ International increased its offer for GM’s Opel unit, agreeing to inject more cash into the unprofitable division and seek less in loan guarantees from the German government, reports Bloomberg. Under the revised bid,
GM and Berlin in Opel stalemate
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,
Berlin irked by GM’s Opel delay
Germany’s government has expressed irritation at General Motors’ failure to decide on a preferred bidder for a controlling stake in Opel/Vauxhall, heightening tensions over the future of the European carmaker.
GM rejects Beijing Auto bid for Opel
General Motors is to press ahead with talks with Magna International and RHJ International for a stake in its Opel business, after rejecting a bid from China’s Beijing Automotive Industry Corp. GM’s announcement is the latest twist in the saga over the future of the US group’s car businesses in Europe.
GM close to Opel deal with RHJ
General Motors has stepped up negotiations with rival suitors to offload a stake in Opel, its European business, and could sign at least one MoU this week as talks with Magna International, the preferred bidder,
Germany to unveil choice for GM arm
The German government is set to name a preferred bidder for General Motors’ cash-strapped European operations by early Thursday, paving the way for one of the country’s biggest industrial bail-outs.
Fiat revises Opel takeover plan
Fiat has filed a revised takeover plan for Opel, the European unit of US carmaker General Motors, in which it forecast it would cut 2,000 of 25,000 jobs in Germany. The move was seen as a last-minute attempt to win over German politicians and unions,
Three vie for GM’s European units
At least three bidders will make formal offers for a stake in General Motors’ European operations on Wednesday and will be asked to come up with about €650m ($887m). RHJ International, the Brussels-listed car parts company,