general motors

Private equity group, Ripplewood, today publicly confirmed their interest in buying GM Europe, the European arm of US car and van giant General Motors.  The euro-division of GM is on the market in response to the US parent company filing for bankruptcy in a bid to avoid complete collapse.  It includes the recognised brands of Opel and

General Motors, the name behind the likes of Vauxhall and Saab, will be reborn later today, merely 40 days after filing for bankruptcy in the United States.  The giant car and van maker rising from the ashes will be "a new concern that is majority-owned by the US government" (Guardian.co.uk, 10/7/09)

General Motors, owners of Chevrolet, Daewoo, Vauxhall and Saab to name a few, have reportedly called for coordinated federal action to assist the ailing U.S. automobile industry according to Reuters. This is of course in response to the slump in markets and credit markets. The US car giant insists that bankruptcy is not an option asserting that such action would not benefit our customers, our dealers or our employees.