GM sets terms for Opel sale to Magna

“It will be Magna, but under conditions,” one source said on Thursday.
A separate, coalition party source in Berlin said: “We won’t know whether Magna can meet the conditions set by GM until after the German election,” which takes place on September 27.

GM Europe declined comment. Earlier, General Motors said after a two-day board meeting it had approved a course of action for Opel and would be communicating its recommendation within the next 24 hours.

The decision is being closely watched in Germany, where Opel employs roughly half of its 50,000 European workers at four plants making everything from three-door Corsa subcompacts to Zafira vans. The carmaker has two factories that produce automobiles under the Vauxhall badge as well as major sites in Belgium, Poland and Spain.

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