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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: Magna International Inc.

Magna International Inc. stories: 6 news summaries

 GM Won't Sell Opel After All 

European operations won't go to Canadian outfit

Nov 3, 09 7:47 PM CST
(Newser) - General Motors backed out today on a deal to sell Opel, its European arm, to a Canadian parts supplier and its Russian banking partners. The GM board’s move reflects an uptick in the auto business, the Financial Times reports, and will also be a blow to the German government,... More »

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Magna International Inc. • Germany • General Motors • mergers and acquisitions • auto industry • Opel • Sberbank

 GM to Sell Opel 
 to Canada's Magna 

Detroit firm also recommends Vauxhall go to Magna

Sep 10, 09 9:30 AM CDT
(Newser) - After painfully drawn-out negotiations, General Motors’ board has agreed to sell its Opel unit to Canadian firm Magna International, maintaining a tie that will keep Opel a "a fully integrated part of GM's global product development organization," the company said. The German government, which earlier this year loaned... More »

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Angela Merkel • Magna International Inc. • Germany • Canada • bankruptcy • General Motors • Detroit • acquisition • Big Three • Opel • Vauxhall

GM's Opel, Vauxhall Get a Shot at Survival

Canadian firm wants to buy brands, but deal needs German help

May 29, 09 11:48 AM CDT
(Newser) - Canadian auto supplier Magna wants to buy GM’s European brands, offering Opel and Vauxhall a chance at survival, the Wall Street Journal reports. A deal for Opel would need temporary German funding. Angela Merkel’s government is debating putting up some $2 billion—but wants GM and the US... More »

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Angela Merkel • Magna International Inc. • Germany • General Motors • Treasury Department • auto industry • Opel • Vauxhall

Cerberus Close to Consuming Chrysler

Proving that three heads may be better than one

May 13, 07 10:10 PM CDT
(Newser) - Private equity firm Cerberus Capital Management is said to have cut a deal to buy Chrysler from DaimlerChrysler.  Cerberus has lots of experience in negotiating for assets in the auto industry, having led the buyout of auto parts maker Delphi, which has not yet closed and may yet fall... More »

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private equity • Chrysler • Delphi • DaimlerChrysler • Cerberus Capital Management • Magna International Inc. • acquisition • auto industry

(Newser) - A Russian billionaire with possible mob ties plans to buy a major stake in the company that aims to purchase Chrysler. If aluminum magnate Oleg Deripaska  does buy the $1.54 billion stake in Magna International, the cash will come in handy for the Chrysler deal. But Oleg's shady past... More »

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Russia • Chrysler • Magna International Inc. • organized crime • Oleg Deripaska • Russian mob • Committee on Foreign Investment • Don Walker • billionaire

DaimlerChrysler Wants Divorce

Detroit legend's fate may be decided in a German boardroom -- but tk can't seem to get out of first gear

Apr 4, 07 4:22 PM CDT
(Newser) - DaimlerChrysler is trying to unload its clunky Detroit half, its CEO (and occasional company mascot) Dieter Zetsche confirmed at a shareholder's meeting today. The news, which comes after nearly two months of eager speculation, was a relief to frustrated German shareholders, who have long seen Chrysler as a drag on... More »

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private equity • Chrysler • health care costs • Blackstone Group • DaimlerChrysler • Dieter Zetsche • Cerberus Capital Management • Magna International Inc. • Detroit • business

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