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Magna and Sberbank offer selected as the preferred solution for Opel
Posted by: gurufocus (IP Logged)
Date: September 10, 2009 07:11PM
Press Release: Magna and Sberbank offer selected as the preferred solution for Opel
"The Consortium is pleased that its plan for Opel has satisfied General Motors. Together with General Motors, Opel employees and Opel dealers, the Consortium will now work hard to lead Opel into a successful future," said
Completion of the purchase remains subject to finalization of definitive agreements and other conditions, including government-backed financing and regulatory approvals.
MAGNA FORWARD-LOOKING STATEMENTS --------------------------------
Source: PRNewsWireMGA is in the portfolios of Prem Watsa of Fairfax Financial Holdings, Inc., Richard Pzena of Pzena Investment Management LLC, Prem Watsa of Fairfax Financial Holdings, Inc., Arnold Schneider of Schneider Capital Management, Charles Brandes of Brandes Investment, HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC.
Stocks Discussed: MGA,