Fiat - Opel

04 May

Posted by ReD as News

Fiat offers one billion euros to acquire Opel
The meeting was concluded in Berlin between the CEO of Fiat, Sergio Marchionne, and German Economy Minister, Karl-Theodor zu Guttenberg. At the center of the metting Question Opel and the ability to acquire the Italian house of the giant in crisis Russelsheim. The number of Fiat has not released a statement. while Minister of the Government of Berlin.
He said that the offer of Fiat "interesting" but that no decision will be made in the immediate future.
The minister added that the Opel GM must be "maintained" and that the government "seek a solution for Opel in the long term '

Fiat - continued the minister - seeking to consolidate the workforce.
In the floor of the Lingotto, he added, are not shown any staff reductions and that Fiat will retain three out of four Opel plants in Germany.

Fiat - as stated by Karl-Theodor zu Guttenberg - will win the Opel, but does not want to borrow and may require government guarantees. Marchionne has estimated however that the assumption of debt and pension fund GM's U.S. parent company would result in need for funding for 5-7 billion. "That figure could imagine state guarantees on a European scale. I emphasize this point, "the minister concluded.

It seems therefore to take the body a real chance for Fiat, after last week, Government, opposition parties had indicated a clear preference for Magna in the race to "rescue" from Opel. It is learned from union sources that the offer on Opel, Fiat stand at around one billion euros. Said, in fact, the French news agency Agence France Presse Rainer Einenkel, head of the Opel works council of Bochum. The figure, higher than the 750 million we were talking about so far, however, is defined by insufficient Einenkel, whereby Opel needs 3.3 billion to continue to operate and develop. Einenkel reported that Fiat "has not yet submitted a financial plan or productive."