Belgium’s RHJ International emerges as latest bidder for Opel
Posted on 14. Jul, 2009 by admin in China, GM, Opel
Holding company RHJ International has emerged this week as a strong challenger to Magna International in the bidding war for General Motors’ Opel division. The Belgium-based industrial holding firm, which is linked to the U.S. buyout company Ripplewood, confirmed that it was in advanced talks to buy a majority stake in Opel and hopes to reach an agreement with GM by the end of this week.
Automotive parts supplier Magna International had long been seen as the front-runner for Opel and had aimed to sign a deal with GM by July 15, but with talks between the two companies suffering a hold up, newcomers like RHJ and China’s Beijing Automotive Industry Corporation (BAIC) are also vying for a piece of the Opel pie.
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