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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Generali | AQEU:GM | Aquis Europe | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.18 | -0.76% | 23.40 | 23.48 | 23.49 | 23.67 | 23.40 | 23.49 | 203,680 | 16:50:27 |
From Jul 2019 to Jul 2024
Beijing Automotive Industry Holding Co. Ltd. plans to invest $2.25 billion in Adam Opel GmbH in China to ramp up production capacity by 2015, according to a document detailing the Chinese automaker's takeover plan for General Motors Corp.'s (GMGMQ) European unit.
BAIC wants to expand production in China to 485,000 Opel cars by 2015 and plans to build a network of 400 dealerships by then, according to the document. The document, which was reviewed by Dow Jones Newswires, is addressed to GM, dated July 2 and signed by BAIC Chairman Heyi Xu.
BAIC is offering EUR660 million in equity for a 51% stake in Opel, with GM retaining a 49% stake.
BAIC's bid is aimed at outpacing Canadian auto supplier Magna International Inc. (MGA) in the race for Opel.
Magna is the front runner to clinch the deal with GM after it signed in May a non-exclusive memorandum of understanding to acquire a majority stake in Opel and British brand Vauxhall as part of a bid backed by Russia's Sberbank Rossia (SBER.RS) and automaker OAO GAZ Group (GAZA.RS).
Company Web site: www.opel.de
-By Beate Preuschoff and Christoph Rauwald, Dow Jones Newswires; +49 69 29 725 512; christoph.rauwald@dowjones.com
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