RHJ International has posted a 42 per cent annual loss
2 July 2009

RHJ International, the Belgian private equity firm reported to be bidding for Opel/Vauxhall, has posted a full-year loss of one billion Euros (£850 million), sparking doubts over its ability to buy a stake in the German manufacturer from GM.

Its equity portfolio suffered a 43 per cent loss in value compared to this time last year. Analysts are now saying that RHJ is in no fit position to buy any stake in Opel, despites its perceived good intentions.

An industry source said: “RHJ can't acquire a majority stake or a large minority in Opel, because they simply don't have the cash. RHJ doesn't even come close.”

Vauxhall/Opel sale in trouble

The source suggested that RHJ may still secure a small stake to support its automotive subsidiaries including Belgian parts maker Honsel International, but a majority one was now out of the question.

See all the latest Vauxhall reviews, news and video

RHJ said it has 447 million Euros (£380 million) available for investment in new assets. By contrast, the deal GM has agreed with Magna and Sberbank would see the two firms invest between 500 and 700 million Euros (£430 - £600 million).

An RHJ statement, which did not mention Opel, said: "The company's automotive assets suffered the effects of severe and rapid volume declines.

“Our cash position continues to be a key strength as we review new investment opportunities and possible expansion into new strategic areas including, but not limited to, financial services in Europe.”

Mark Tisshaw

Twitter - follow autocar.co.uk

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Ford Mustang
    First Drive
    24 March 2018
    Sixth-generation Mustang gets a leaner face, revised suspension, improved safety equipment and a more power V8. We see how it fares on southern French roads
  • First Drive
    23 March 2018
    Fully-loaded, big-hitting diesel CLS shows the potential perils of ticking too many options boxes on your order form. A good car with a bad suspension combination.
  • BMW M5
    First Drive
    22 March 2018
    Super saloon deploys four-wheel drive to improve every facet of its driving experience. Faster and more capable than any, and more exciting than most, of its celebrated predecessors
  • Range Rover Sport SVR
    First Drive
    22 March 2018
    More power and an intoxicating soundtrack have breathed new life into our love affair with the biggest, baddest Range Rover Sport variant
  • First Drive
    21 March 2018
    The new Vantage has been developed as a Porsche 911 beater, and our first taste on UK roads suggests it can live up to that bold claim