Opel dealers from 25 European countries gathered in Vienna, Austria, today to confirm that they as a group want a stake in the future of the General Motors-owned German automaker. The dealers would be willing to invest about $200 per car sold over the next three years into a fund that would eventually reach about $680 million.
The dealers, all part of Euroda, the European Opel and GM dealer association, hope that level of investment would also guarantee them a seat on the automaker’s supervisory board.
Though the dealers would be unable to provide the lump sum up front, they hope that their investment would give them about 10-15 percent of Opel.
“To what extent our ideas can be fulfilled of course depends on negotiations and to what extents investors want us in a new Opel-Vauxhall company,” Euroda deputy chairman Albert Still told the Associated Press.
Opel is currently undergoing heavy negotiations with a number of bidders interested in acquiring a majority share in the automaker, including Italy’s Fiat and Canadian parts supplier Magna International.
“It could be historic that, for the first time, dealers participate in their manufacturer in a noteworthy extent and so gain a certain degree of influence on the future policy of the producer,” Still said.
05/15, 8:10 PM
posted by:
beatusmongous
I guess absolutely no one cares about this story.
05/16, 9:45 PM
posted by:
monte
True
05/17, 8:51 AM
posted by:
SoTXFord
I have a feeling that the dealers are going to get the big F U on this one too. No one gives a damn about the little guy in these restructures.
05/18, 4:07 AM
posted by:
fan
i think this would be great, if dealers actually had some influence over the manufacturer… would mean less BSy products would be produced, and products would tend to be closer to what the customers want, cause the guys who actually have to sell them would have a say in their making…
eventhough i too have a feeling that those dealers will not succeed, i would still love the idea