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GM Generali

23.32
-0.16 (-0.68%)
11:36:43 - Realtime Data
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
  -0.16 -0.68% 23.32 23.32 23.33 23.36 23.07 23.31 104,203 11:36:43

UPDATE: GM Europe Expects At Least 3 Bids For Co By 1600GMT

20/05/2009 11:27am

Dow Jones News


Generali (AQEU:GM)
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General Motors Corp.'s (GM) European division said Wednesday it expects to receive at least three bids from potential investors by 1600 GMT today for the group's European division.

A company spokesman declined to elaborate on any names of potential investors.

Italian automaker Fiat SpA (F.MI) plans to integrate GM's European, Latin American and South African operations into a global alliance with its own auto unit and Chrysler LLC.

Austrian-Canadian auto parts supplier Magna International Inc. (MGA) has also signaled its interest in GM Europe, but hasn't provided further details on its plan so far.

GM Europe comprises the core German Opel brand, as well as Vauxhall in the U.K. and Saab in Sweden.

A person familiar with the matter told The Wall Street Journal earlier this month that RHJ International (RHJI.BT), a European buyout firm with holdings in the auto-parts industry, has also emerged as a suitor for GM Europe.

German Economy Ministry spokesman Steffen Moritz said that Commerzbank AG's (CBK.XE) DresdnerKleinwort unit will collect the bids.

Company Web site: www.gm.com

-By Katharina Becker, Christoph Rauwald and Andrea Thomas, Dow Jones Newswires; +49 69 29 725 512; christoph.rauwald@dowjones.com

 
 

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