General Motors’ German Opel and Vauxhall divisions have remained a relative unknown as the Detroit automaker concentrates on its North American viability plan, but an inside source has revealed the Opel/Vauxhall brands have several interested investors, including Chinese suitors.
According to an Automotive News source, Chinese companies are among a handful of firms vying for a stake in GM’s Opel and Vauxhall brands. Other suitors include European industrial groups, private equity firms and sovereign wealth funds.
Although GM is looking to fully unload its Hummer, Saab and Saturn brands, the potential investors would only be buying a portion – albeit a majority stake – of GM’s Opel/Vauxhall business. According to a Reuters’ source, GM is seeking a minimum of a $649 investment for the two brands.
GM CEO Fritz Henderson acknowledged talks are ongoing between GM and six Opel/Vauxhall suitors, but couldn’t reveal any names per a confidentiality agreement. However, an announcement on the subject could be made as early as next month.
