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Investors kick tyres at Opel and Saab

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Investors kick tyres at Opel and Saab

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A union leader has confirmed reports the German state of North Rhine-Westfalia has held talks with Abu Dhabi on possibly investing in GM subsidiary Opel.

Rainer Einenkel, head of the Opel works council, also said he was not opposed to that. A member of Abu Dhabi’s royal family was quoted by a German newspaper as saying he’d had “very positive” discussions last week, but “no decision has been taken yet.” In addition, Einenkel revealed there are others interested in Opel: “Separately from that, there are other discussions with a number of investors who have approached the company. As a member of the supervisory board, I am well informed. There are talks going on.” Another part of General Motors – Saab – has just been granted more time by a Swedish court to restructure before it has to pay its creditors. As he asked for longer to sort out the struggling carmaker the court-appointed administrator said around 20 potential buyers are interested in the firm. Saab is hoping for a deal with creditors to write off 75 percent of its debt.