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Europe's Opel dealers meet on investment offer for ailing carmaker
May 15, 2009, 8:28 GMT
Vienna - Europe's Opel dealers were set to finalize their investment offer for the ailing German carmaker on Friday, as they got together for a meeting in Vienna.
The 25 national members of the Euroda dealer association have already agreed in principle to a plan to save Opel, the group's deputy chairman Albert Still said Friday morning.
In total, the group wants to contribute over 400 million euros (544 million dollars) to save the troubled carmaker, as 35,000 retail jobs are at risk in Germany alone.
The plan is to pay 150 euros for each sold car into an emergency fund over the coming three years.
'What we have to do now is to work out the procedure,' Still said.
Euroda's offer would then have to be accepted by potential major investors such as Italian carmaker Fiat or Canadian-Austrian car parts supplier Magna.
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