Magna issues statement about failed Opel purchase after GM's decission |

As you heard earlier today, General Motors has announced that after all that effort, it will keep German carmaker Opel, and said that the deal it had with Canadian partsmaker Magna and its partner, Russian bank Sberbank, is off.

Even though it’s sure that the decision didn’t go so well with either Magna or Sberbank (perhaps some Canadian or Russian spies will pay a visit to Fritz Henderson, GM’s CEO), the partsmaker issued a statement, through the voice of its Co-CEO, Siegfried Wolf, in which it says it understands GM’s decision and thanks everyone involved.

“We understand that the Board concluded that it was in GM’s best interests to retain Opel, which plays an important role within GM’s global organization. We will continue to support Opel and GM in the challenges ahead and wish to thank everyone who supported the Opel restructuring process for their tireless efforts and dedication over the past several months. In particular, we wish to thank our partner, Sberbank, for its significant contribution and support throughout this process,” said Wolf.

Well it seems that Magna was prepared for such a decision on behalf of GM. As I’ve said, hopefully the decision of the US corporation will be the best for Opel and for everyone involved.

Source: AutoEvolution

Post tags : General Motors, gm, magna, Opel, sberbank