Hong Kong | Friday, 30 July 2010 |
香港財經日報  |International Business Times
Global News
All IBTimes
Global News

Beijing Automotive plans Opel bid: report

Font Scale:
Posted 02 July 2009 @ 01:56 pm HKT

Chinese carmaker Beijing Automotive Industry Holding Co plans to present a detailed bid for General Motors Corp's Opel unit in the next few days, the Wall Street Journal reported, citing a person familiar with the matter.

Beijing Automotive held discussions with GM last week and is firming up details of an offer, the paper said.

Beijing Automotive currently makes Mercedes-Benz and Accent cars at joint ventures with Daimler AG and South Korea's Hyundai Motor <005360.KS>.

General Motors has been talking to other potential buyers for Opel as it worked through snags with preferred bidder Canadian-Austrian auto parts group Magna International .

On Tuesday, a GM Europe spokesman confirmed that potential buyers for the business included Belgium-based holding company RHJ International and Beijing Automotive.

Beijing Automotive could not be immediately reached for a comment by Reuters.

(Reporting by Hezron Selvi in Bangalore; editing by John Stonestreet)

Article Tags
automotive beijing bid opel plans report
IBTimes RSS
E-Newsletters : Enter your Email for Fast News & Opinions