GM prepares prospectus for Opel sale

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March 15, 2009 by German Car Magazine
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opel insignia main 630 1009 350x200 GM prepares prospectus for Opel sale

General Motors, on the brink of bankruptcy, is planning to sell its Opel division as it attempts to cut costs and focus on its core brands back in the United States. The company confirmed in its recent viability plan that it will sell Hummer, downsize Pontiac, and stop building new products for Saturn beyond the 2012 model year, and his since also confirmed that it is on the lookout for potential buyers for Opel.

Speaking with the Financial Times, GM’s head of European operations, Carl-Peter Forster, said the company would be approaching possible interested parties soon and is keen to find an outside investor that is backed by governments in the EU.

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