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New Sasol GTC cars set for thrills

The iconic Grand Prix Circuit will present a new challenge to the GTC drivers as they tackle the country’s fastest racetrack on June 16.

Suzuki’s new Swift hatch and sedan in SA

Suzuki kicks off its new model assault with an all new Swift hatchback and standalone sedan called the Dzire.

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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