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
GM
GM Europe has third bidder
GM Re-Born
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)
