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Factbox: Chinese offer for Opel

2009-07-08 08:37

Frankfurt - State-owned Chinese carmaker Beijing Automotive Industry Holding Co (BAIC) has presented an indicative offer for a majority stake in General Motors' European business Opel.

Here are key points from the offer document, of which Reuters has seen a copy:

* BAIC to invest 660 million euros for 51% of Opel, needs 2.64 billion euros in guaranteed loans

* GM would retain a 49% stake in Opel if agreements on intellectual property rights are satisfactory to BAIC

* Offer values 100% of Opel equity at 515 million euros, enterprise value at 4.45 billion euros as of end-May

* BAIC plans to build and sell 485 000 Opel vehicles in China through 400 dealerships by 2015

* Plans total investments of $2.25 billion by 2015 for Opel China, primarily to build up production capacity

* Plans to cut 7 584 Opel jobs in Europe, of which 3 018 are in Germany and the rest mainly in Belgium and Spain.


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