OEM - Opel Sold Six Subsidiaries of GM ~ THE AUTOMOTIVE WORLD BLOG

Opel has a report in the "Frankfurter Allgemeine Zeitung" According sold six subsidiaries in Europe at General Motors to secure a loan from the parent company.

The former settlement of European subsidiaries of GM Opel will be reversed, the newspaper (Friday). The carmaker had the loan of nearly 2.5 billion euros actually have to pay back by the end of 2014, now is the financial plan of Opel secured by 2016.

The report did Opel communication board Johan Willems not commented on request, but does not also denied. An Opel spokesman said on Thursday: "The Adam Opel AG is 100 percent owned General Motors. We comment on internal accounting transactions are not. "

The affiliates are loud "FAZ" at an engine plant in Hungary, a gearbox production in Austria, with a development center in Italy, a factory in Poland and other activities in the UK and Russia. Only the German plants and in Zaragoza (Spain) and Ellesmere Port (United Kingdom) were still Opel. GM sold the factories served as collateral for the loan.

GM is firmly back on its own feet, but Opel is suffering from a slump in sales in Europe. Therefore, the car maker had been sealed with Peugeot-Citroen cooperation in logistics and vehicle development. The production of Opel car factory in Bochum 2016 will come to an end.

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