Author (Person) | Benoit, Bertrand, Reed, John |
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Series Title | Financial Times |
Series Details | 30.5.09 |
Publication Date | 30/05/2009 |
Content Type | News |
The European arm of General Motors would be shielded from the expected insolvency of the US group after an 11th hour deal reached on the 30 May 2009 that will see Magna International, the Canadian parts supplier, take over the business with financial backing from the German government. The German government, facing a difficult election in September 2009, is keen not to allow Opel – a famous old manufacturing company with four large German plants – to disappear, taking thousands of jobs with it. Germany is offering €1.5bn in bridge finance to the company. |
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Subject Categories | Business and Industry |
Countries / Regions | Belgium, Europe, Germany, Poland, Spain, Sweden, United Kingdom |
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