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 Italian Fiat to buy Opel? |
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| Buka |
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Fiat and GM will announce a deal in a few days that Fiat is buying GM's European operations (its a OPEL). I know that Fiat builds most everything which moves in Italy, but where do they get that kind of cash?
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| opelfan |
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Italian design + German engineering? I hope its not german design with italian electricals 
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2006 OPEL Vectra 2.2
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| Buka |
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Newbie
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| QUOTE (opelfan @ Apr 26 2009, 02:40 PM) | | I hope its not german design with italian electricals |
horrible nightmare! 
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| opelfan |
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FIAT AS NEW PARTNER
| QUOTE |
Fiat, which believes it must raise volumes to around six million cars a year to survive in the long term, is looking to profit from the current crisis by tripling its size through the acquisition of loss-making Chrysler and Opel on the cheap.
Chief Executive Sergio Marchionne, who pulled off a three-way merger in the past with Swiss group Alusuisse Lonza, France's Pechiney and Canada's Alcan, told Enzo Masini, an official with the FIOM-GGIL union, that Fiat "has the ability and capacity to handle two series of negotiations".
Combining Opel and Fiat could create the second-largest auto maker in Europe behind Volkswagen as well as yielding "massive platform and engine synergies". It would also give Fiat much needed technology to allow it to stay competitive in Europe, Bernstein said in a recent analyst note.
But serious questions surround Fiat's ability to fund such a deal or to pull off the integration. At the end of March, Fiat had 5.1 billion euros of industrial gross cash and 6.6 billion euros of net industrial debt.
Options are limited due to Fiat's junk credit rating and 9.6 billion euros of debt refinancing due by the end of 2009, according to Bernstein Research.
But Marchionne this week hinted there could be M&A activity involving the Iveco truck unit.
Armin Schild, a German union leader and Opel supervisory board member, said he was worried Fiat would solve its own dramatic overcapacities by closing in particular German Opel plants using funds stumped up by German taxpayers. |
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2006 OPEL Vectra 2.2
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| Sotr-76 |
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Opel's guys hate italian mechanics |
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| opelfan |
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Administrator
Group: Admin
Posts: 16
Joined: 23-April 09
Location: Ukraine
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Opel Could Build Cars for Other Makers if Acquired by Magna
| QUOTE | General Motors' Opel unit might make cars for other manufacturers if car parts maker Magna becomes its partner, German paper Welt am Sonntag reported, citing unidentified sources close to Magna.
Germany's hunt for a partner for struggling Opel has boiled down to two rival groups, Italy's Fiat and Austrian-Canadian Magna, which have been asked to present a full plan within a week, Economy minister Karl-Theodor zu Guttenberg said.
If Opel has to reduce output of its cars, it could offer capacity to other carmakers such as Peugeot or Ford, for example in its factory in Ruesselsheim, the sources close to Magna said, according to the weekly newspaper.
Magna therefore does not plan to close any Opel factories in Germany, while it might shut plants in Belgium's Antwerp and in Luton in the UK, the paper said.
The report comes as carmakers around the world reduce output and close factories as demand for cars is shrinking.
The government was working on a temporary financing deal for Opel in the event GM filed for bankruptcy before a deal with investors was agreed, he said then.
But Opel might still go bankrupt if both Fiat's and Magna's plans prove to be unsuitable, Guttenberg said, according to weekly newspaper Welt am Sonntag.
Fiat's strategy for the German carmaker centers around a three-way merger with Chrysler and GM's European operations. |
What do you think?
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2006 OPEL Vectra 2.2
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