New Magna offer for Opel to demand IP rights: report
MOSCOW/BRUSSELS (Reuters) - A Magna-led (MGa.TO) consortium of bidders for Opel will make a new offer for the German carmaker on Monday that includes a demand for rights to its intellectual property, a Russian newspaper reported.
Final binding offers are due at the close of business in Europe on Monday in what appears to be a three-horse race for General Motor Corp's European unit.
Belgian-listed holding company RHJ International (RHJI.BR) confirmed on Monday it would be submitting a "compelling" offer. Magna, the Canadian auto parts supplier, is expected to join it and Beijing Automotive (BAIC> is a possible third bidder.
Citing a single source, Kommersant daily said the Magna consortium, which includes Russian state bank Sberbank (SBER03.MM), would make its new offer "in the form of an ultimatum" and leave the talks if it was not accepted.
Magna would want to sell Opel cars under its own brand and make any changes it wished to Opel designs, as well as use Opel technology for new models, Kommersant said, adding the Russian government supported the proposal.
Analysts have said a Russian role in an Opel buy would make sense only if it brings access to new technology which would help Russia revive its domestic automakers, largely stagnant since the Soviet period ended.
Sberbank, a presumed financier of the deal, is expected to be a short-term holder of Opel equity if the bid is successful and would likely pass it on to a Russian auto maker.
(Reporting by Philip Blenkinsop and Melissa Akin; editing by John Stonestreet)
