Magna would take 20 pct stake under Opel plan

BERLIN Fri May 22, 2009 6:35am EDT

BERLIN May 22 (Reuters) - Canadian-Austrian car parts group Magna MGa.TO said on Friday that under its plan for Opel, U.S. parent GM (GM.N) and Russian partners would each hold 35 percent stakes, while it would take 20 percent and employees 10 percent.

Magna co-CEO Siegfried Wolf said the company intended to keep all four German plants but he would not make any promises for Opel plants in England and Antwerp, where the future was uncertain.

(Reporting by Christiaan Hetzner)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.