Opel Sees Questions On Takeover By Magna As Resolved

General Motors Corp.'s (GMGMQ) German unit Adam Opel GmbH believes the main points for a takeover by Magna International Inc. (MGA) have been cleared, contrary to media reports, Opel works council chief Klaus Franz said Tuesday.

"The questions regarding patents has been dealt with," Franz said. "The questions regarding market entry have more or less been resolved," as well as pension liabilities that, according to media reports, amount to about EUR4.5 billion, he added.

Austrian-Canadian car parts maker Magna has teamed up with Russian automaker OAO GAZ Group (GAZA.RS) and state-controlled OAO Sberbank (SBER.RS) in its bid for the German company and its U.K.-based sister brand, Vauxhall.

The governor of the German state of Hesse, Roland Koch, was confident about a takeover of Opel by Magna despite ongoing speculation a deal might falter.

"There isn't the slightest reason to assume an agreement won't be reached," Koch said after a meeting of Opel's works council.

Magna won't only use its technological knowledge and operational competence, but also puts its reputation as one of the leading car parts suppliers on the line. "We want an investor which does badly if they perform poorly here," Koch said. "With Magna, this is the case."

Company Web site: www.opel.de

-By Katharina Becker, Dow Jones Newswires, [phone], [e-mail]