Magna will have a “complete firewall” in place between its car parts and auto-maker businesses, its co-chief executive has said.
Several companies who use Magna as a supplier, including VW, have spoken against its proposed takeover of Opel/Vauxhall due to a potential conflict of interest.
Donald Walker said he understood these fears and steps would be taken to ensure the businesses were run separately to avoid any conflict of interest, although he didn’t confirm any details.
“We do understand Magna is an auto parts company and Opel is a car company so if we complete this than we have to have a complete firewall between the two business units and that is under discussion right now,” he said.
Magna’s takeover of Opel/Vauxhall, along with Russian bank Sberbank, has yet to be formally finalised and German economy minister Karl-Theodor zu Guttenberg has said that Opel remains at risk of insolvency until any takeover is completed.
“All of that could still happen,” he said at a business event in Berlin.