RHJ plans offer of 300m for a stake in Opel
RHJ INTERNATIONAL, a rival bidder to frontrunner Magna for German carmaker Opel, is planning to offer around €300m (£256.9m) for a stake of just over 50 per cent in the group, it emerged yesterday.
RHJ’s bid comes in below the €660m that Beijing Automotive (BAIC) intends to invest for a 51 per cent stake in Opel. The Chinese carmaker has also made a request for €2.64bn in state-backed guarantees.
Canadian auto parts maker Magna and its Russian backer Sberbank originally offered to invest at least €500 m for a combined 55 per cent stake. It is expected to ask the German state to provide €4.5bn in guarantees.
RHJ chief executive Leonhard Fischer is expected to present his plan to high-ranking officials in Berlin today.
Magna has been considered the clear frontrunner because it has pledged to save Opel jobs in Germany.