Forster Rejects Bankruptcy Proceedings

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

GM European boss Carl-Peter Forster does not believe in the discussion about the bankruptcy of Opel. At the moment there are allegedly several possible interested parties in the Rüsselsheim car manufacturer, but BMW is not one of them.

Opel parent company General Motors (GM) is not yet in talks with anyone interested in the ailing subsidiary. “There are interested parties from home and abroad. But there are still no formal talks, "said GM Europe boss Carl-Peter Forster of the" Süddeutsche Zeitung "(Thursday edition). If Opel opens up to a new shareholder, a different social structure must be found, because the new investor wants to have a say in the decision-making process. The connection to GM remains very important in the first step.

Bankruptcy is rejected

Forster continues to reject insolvency proceedings: “We ran through this scenario once. For us it is not an alternative that we are actively promoting. " Opel needs guarantees of 3.3 billion euros in order to get loans from banks. In Spain, Opel already has a guarantee for a specific project. In Germany, the car manufacturer needs a guarantee for 2.6 billion euros. The talks with the employee representatives on the subject of wage cuts made progress, Forster continued. But the subject is complicated. "There is a lot of persuasion to do here."

The car manufacturer BMW has again rejected reports of possible interest in the ailing General Motors subsidiary Opel. "We have no plans or intentions to participate in Opel," said a BMW spokesman on Thursday in Munich on request. "We don't need any additional capacities in Europe." The "Frankfurter Rundschau" had previously reported that the Quandt family, as major BMW shareholders, preferred a possible cooperation with the company to a closer connection with Daimler. BMW is particularly interested in the know-how in the small car segment and in electric drives. (AG / dpa)