Belgian Regional Government Offers GM EUR200 Million To Save Car Plant
April 30 2009 - 9:56AM
Dow Jones News
A Belgian regional government has offered General Motors Corp.
(GM) EUR200 million in aid to save the carmaker's plant in
Flanders, it said Thursday.
"The Flemish government proposes GM a sale and lease back
procedure, which for GM could result in an estimated cash inflow of
EUR200 million," it said in a statement.
GM has a plant in Antwerp, where it produces Opel-branded cars,
and the Flemish government has been worried that the company might
decide to close down the plant as part of a broader European
restructuring plan.
The government has already proposed earlier this year to
guarantee the financing of new investments for that plant.
-By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88;
alessandro.torello@dowjones.com