Sunday, September 13, 2009

Ministers of the EU economy will be meeting over the sale of Opel

The European Union intends to review the situation surrounding the sale of the concern Opel consortium of Austrian-Canadian firm Magna, Sberbank of Russia and GAZ Group. To do this, will convene a special meeting of Ministers of Economy and Industry, said in Brussels the European Commission, reports Deutsche Welle.

Interested parties will be represented in full, all information related to the transaction. Ministers to determine whether the plans for restructuring the economic criteria of the EU. In particular, should be submitted to guarantee that the company will retain viability in the future.

European Commission seeks to ensure that the restructuring did not suffer any business concern. Otherwise, Brussels may prohibit the disbursement of financial assistance amounting to 4.5 billion euros in loans and state guarantees. The Commission will closely monitor further developments and maintain ongoing contact with interested parties, said the EU representative.

As the "Deutsche Welle", selling Opel consortium led by Magna provoked sharp criticism in Belgium. Vice Premier, Finance Minister Didier Reinders demanded an immediate investigation at the European level in relation to the possible adoption of protectionist measures by Germany.

In the media reported that a deal may be jeopardized Opel plant in Antwerp, where 2,580 people work. At the same time provided by a consortium led by Magna concept envisages the preservation of all enterprises in Germany. The representative of the European Commission refrained from answering the question, how many enterprises in which countries can be closed. According to him, the details of the deal are not known yet, the process is not complete.

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