GM Europe has moved to quell speculation that its US parent company's move into Chapter 11 bankruptcy protection will affect its operations.
GM Europe began negotiations for the sale of Vauxhall/Opel to a consortium led by Canadian car parts supplier Magna last week. As part of that process, Vauxhall/Opel's assets were placed in a trust, called Adam Opel GmbH, to separate it from GM in America.
During this time it is being financed by a bridge loan from the German government, and the trustee agreement is structured so that GM's US operations have no impact on the day-to-day activities of GM's Europe.
"This has been a very intense and at times difficult negotiation over the past several days,” said GM Europe President, Carl-Peter Forster.