2023 Author: Eric Donovan | [email protected]. Last modified: 2023-05-21 15:44
According to a media report, Opel should lose significantly more money every day than originally assumed. Meanwhile, it is becoming apparent that the Chinese manufacturer BAIC intends to submit a subsequent offer by mid-July.
The car manufacturer Opel is apparently burning far more money than previously assumed. According to a report by the WAZ group, the previous GM subsidiary in Europe loses up to six million euros every day. So far, there has been talk of a daily loss of more than three million US dollars. The information provided by the WAZ Group relates to the corporate environment.
Bridge financing lasts until September
The bridge financing of the federal government and the states over 1.5 billion euros will last until mid-September, it said. Until then, contractual clarity should be created about the future of the car manufacturer. There should be no additional demand. So far, the Canadian-Austrian supplier Magna is considered to be the most promising bidder. However, negotiations with other interested parties are also ongoing. According to the "Financial Times", the Chinese manufacturer Beijing Automotive Industry Corp. (BAIC) submit an improved offer in mid-July. According to circles, the financial investor Ripplewood could also top it up again. General Motors gave both interested parties a look at the Opel books this month in order to increase the pressure on Magna, the newspaper writes.
Together with Russian partners, Magna wants to take over 55 percent of Opel, 35 percent should remain with General Motors, and ten percent should go to the Opel dealers. The negotiations between the supplier and the parent company did not go ahead, writes the "FT". A preliminary contract was originally supposed to be signed with Magna in mid-July. (dpa)