Beijing Auto makes offer for GM’s Opel unit
LONDON (MarketWatch) — General Motors has received a non-binding approach from China’s Beijing Automotive (BAIC) for its European Adam Opel unit. The company is also in discussions with Belgian industrial holding company RHJ, a spokeswoman said Friday. GM has already signed a memorandum of understanding over the possible sale of a majority stake in Opel to Canada’s Magna International Inc. . GM and Magna are continuing to work to close that deal, the spokeswoman said.
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