Home / China News / News detail

Beijing Auto makes formal offer for GM's Opel unit

From Dow Jones| May 27 , 2009 09:18 BJT

Beijing Automotive Industry (Holding) Corp (BAIC) made a formal offer last week for General Motors Corp.'s (GM) German Adam Opel GmbH unit, daily Die Welt said in an advanced report to be published Wednesday, citing unidentified financial sources.

According to the report, BAIC won't cut jobs in Germany as part of the deal, plans to keep all German plants for two years and demand less financial guarantees from the state than rival bidders.

The report said BAIC is being advised by Deutsche Bank AG (DB) as well as its cooperation partner Daimler AG.

Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:buyer-support@gasgoo.comSeller Service:seller-support@gasgoo.com

1: Spotlight on Chinese automakers’ new energy vehicles at Auto China 2024

2: Chery, NVIDIA to develop next-gen intelligent driving platform based on NVIDIA DRIVE Thor

3: GAC Group launches Smart Mobility 2027 plan at Auto China 2024

4: Momenta, Qualcomm launch new intelligent driving solutions