Currently reading: New twist in Vauxhall/Opel sale
Third party, RHJ, says it is in advanced talks to buy car maker
1 min read
13 July 2009

GM’s sale of Vauxhall/Opel has taken another twist after Belgian private equity firm RHJ International claimed it was now in advanced talks to buy the manufacturer.

Despite reportedly submitting a bid for Opel/Vauxhall last month, RHJ was not considered a serious contender for the firm due to its seemingly weak financial position.

However, a RHJ spokesman revealed: “We felt we've reached advanced stages of negotiations, and we feel it is now appropriate to confirm these talks.”

Twitter - follow

RHJ joins China's Beijing Automotive Industry Corp. (BAIC) in submitting a new offer for Vauxhall/Opel, although the German government's named preferred bidder Magna remains the favourite to tie up a deal this week.

RHJ’s bid is centred on saving jobs and keeping manufacturing in Europe, whereas BAIC's bid would involve closing a European factory and moving some manufacturing to China.

Both RHJ and BAIC have said they would require 3.8 billion euros (£3.3 billion) in government guarantees if they buy Vauxhall/Opel, which is less than the 4.5 billion Euros (£3.9 billion) Magna has said it needs.

Mark Tisshaw

See all the latest Vauxhall reviews, news and video


Find an Autocar review

Add your comment

Log in or register to post comments

Find an Autocar car review