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Magna Has Interest in Saturn, May Invest $981M in Opel (Visit this link)
Chris Reiter and Matthias Wabl from Bloomberg: Magna International Inc, one of at least three competing bidders for General Motors' Opel unit, aims to join Russian partner OAO Sberbank in investing as much as 700 million euros ($981 million) in the deal. German state leaders said today that they'll focus on working out government backing for the offer by Magna, Canada's biggest car-parts maker, which would give the manufacturer a 20% stake in GM's Opel and Vauxhall divisions in Europe. Sberbank, Russia's largest lender, would own 35%, matching the remaining holding of Detroit-based GM, Magna Co- Chief Executive Officer Siegfried Wolf said. Magna may also be interested in GM's Saturn division in the US, Wolf said in a Bloomberg Television interview. "We're interested in everything if it would help us to utilize our facilities," Wolf said. "We are always interested in all possibilities that would help grow our company."
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