Opel Talks To Banks About Loans

2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36

The car manufacturer Opel expects 1.8 billion euros in aid from the state for the restructuring of the company. The Rüsselsheim-based company is currently in talks with a banking consotium.

According to a newspaper report, the car manufacturer Opel is preparing for the hoped-for government guarantees and is working with a bank consortium on the necessary loans. Among other things, Commerzbank, which had already coordinated the sales negotiations for Opel via the investment bank Dresdner Kleinwort, reports the "Handelsblatt" from financial and corporate circles in the consortium. A syndicate leader for the banking group has not yet been selected, it said. A spokesman for Opel did not want to comment on the information to the newspaper.

1.8 billion aid needed

The banks should raise the loans, which in turn are guaranteed by the European states. The General Motors subsidiary (GM) is aiming for state aid totaling 1.8 billion euros as part of the planned restructuring, of which 1.3 billion from Germany alone, writes the newspaper. Most of the upcoming state aid will be granted in the form of guarantees - money will not flow initially. GM itself wants to put 1.9 billion euros into the Opel rescue, partly as equity, partly in the form of loans. (Dpa)