GM says doesn't plan to retake Opel majority
General Motors does not plan to retake majority control of Opel at a later date, the U.S. carmaker's chief negotiator John Smith said on Thursday after GM decided to sell the unit to a group led by Canada's Magna.
The chairman of the Opel Trust, which has the final say on who can acquire the European carmaker, added that its decision to approve the sale to the Magna-led group was not unanimous.
It was not a unanimous decision, Opel Trust Chairman Fred Irwin told a joint news conference with Smith, noting that two Trust members had voted for the deal, one against, and one had abstained. The Trust's board comprises five members, four of whom have votes.
(Reporting by Dave Graham, writing by Paul Carrel)
© Copyright Thomson Reuters 2024. All rights reserved.