July 20, 2009 / 8:14 AM / 10 years ago

New Magna offer for Opel to demand IP rights: report

A traffic sign shows the way to the Opel plant in Ruesselsheim July 14, 2009. REUTERS/Johannes Eisele

MOSCOW (Reuters) - A Magna-led MGa.TO consortium of bidders for Opel will make a new offer for the German carmaker on Monday which includes a demand for rights to Opel’s intellectual property, a Russian newspaper reported.

Citing a single source, Kommersant daily said the consortium, which includes Russian state bank Sberbank SBER03.MM, would make the 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.

Writing by Melissa Akin; editing by John Stonestreet

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