After more than three months of negotiations, eight firms are advising on a deal that will see a Canadian-Russian consortium acquire a 55 percent stake in GM’s Opel auto unit, whose fate has twisted in the wind following the bankruptcy of its U.S. parent.
The deal has been lauded by the German government, which is gearing up for elections at the end of this month and is keen to avoid mass layoffs at Rüsselsheim-based Opel. Opel has received billions in aid from the German government in recent months.
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