GM repays $297.6 mln to Germany for Opel loan
www.chinaview.cn 2009-11-14 08:09:07   Print

    CHICAGO, Nov. 13 (Xinhua) -- U.S. automaker General Motors Co. Friday repaid 200 million euros (about 297.6 million U.S. dollars) in German government aid that kept its carmaker Adam Opel GmbH afloat this year, the company said.

    GM also said it will repay another 400 million euros (about 595 million U.S. dollars by Nov. 30.

    The payment comes more than a week after GM's board of directors decided to keep Opel instead of selling it to Canada's Magna International Inc. and its Russian partner, Sberbank.

    The 1.5 billion euro (about 2.2 billion U.S. dollars) bridge loan was intended to keep Opel operating until a deal was finalized or rejected.

    GM is now preparing its own 4.5 billion-dollar restructuring of Opel but faces skepticism in Germany.

Special Report:  Global Financial Crisis

Editor: Xiong Tong
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