General Motors moved yesterday to package together the assets of its European Opel and Vauxhall car brands for possible new ownership before top-level meetings with bidders and government officials in Berlin.
Opel’s supervisory board approved a GM Europe plan to pool its European plants, sales operations, patents and other assets, excluding Sweden’s Saab unit, debt-free under German-based Adam Opel, said Karin Kirchner, a spokeswoman for GM Europe.
“This way it can join a partnership with a potential investor,” Kirchner said. “You have one company that would be invested in or would sell a stake.”
Italy’s Fiat, Canadian auto parts maker Magna International and U.S. investment firm Ripplewood Holdings have all filed bids for Opel.