Reuters
Monday, 5 Oct 2009 10:44am EDT
Reuters reported that Magna International Inc. and Sberbank Rossii OAO plan to sign a deal to acquire a 55% stake in German carmaker Opel next Monday or Tuesday, several sources familiar with the matter told Reuters. By then, the Canadian auto parts supplier needs to clinch a deal with Opel's influential labour leaders over annual savings of EUR265 million ($387.4 million). Unions are negotiating with Magna International Inc. and Opel minority owner General Motors over a restructuring plan that would lead to thousands of job cuts across Europe.