The contract signing between General Motors Co. and Magna International and Sberbank will take place next week, according to sources. The deal is meant for GM to sell a majority stake in its European arm Opel to Magna and Sberbank.
The source also said that it would be “realistic” to expect the deal to be signed by the middle of next week. This report is actually consistent with announcements made by GM and Magna officials previously that they aim to get the contract signed by early October and for the sale to formally close by the end of November. Meanwhile, discussions participated in by the companies and Opel union leaders are ongoing.
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