Beijing Auto makes formal offer for GMs Opel unit

Beijing Automotive Industry (Holding) Corp (BAIC) made a formal offer last week for General Motors Corp.'s (GM) German Adam Opel GmbH unit, daily Die Welt said in an advanced report to be published Wednesday, citing unidentified financial sources.
 
According to the report, BAIC won't cut jobs in Germany as part of the deal, plans to keep all German plants for two years and demand less financial guarantees from the state than rival bidders.
 
The report said BAIC is being advised by Deutsche Bank AG (DB) as well as its cooperation partner Daimler AG.
From: Dow Jones

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