Russian billionaire Oleg Deripaska has been in the automotive industry news a lot lately. First he was rumored to be interested in buying Jaguar and Land Rover from Ford – a rumor that was later discounted – and now he’s rumored to have purchased an almost 5 percent share in General Motors.
Sources close to Deripaska say that he bought a 5 percent share, according to Reuters, around $900 million based on yesterday’s $32.45 closing price.
Deripaska is no stranger to the automotive world. He owns Russian automaker GAZ and he invested $1.54 billion in Canadian supplier Magna International in May.
