GM Europe Says Co Expects At Least Three Bids By 1600 GMT
May 20 2009 - 5:17AM
Dow Jones News
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.
A person familiar with the matter told The Wall Street Journal
earlier this month that RHJ International, a European buyout firm
with holdings in the auto-parts industry, has also emerged as a
suitor for GM Europe.
Company Web site: www.gm.com
-By Katharina Becker and Christoph Rauwald, Dow Jones Newswires;
+49 69 29 725 512; christoph.rauwald@dowjones.com