According to Automotive News Europe, Opel/Vauxhall dealers plan to raise 400 million Euros to buy a minority stake in Opel/Vauxhall. The 4,000 Opel/Vauxhall dealers in 25 European countries plans to establish a fund to take a stake in the brands through a company called Euroda. The plan stats that each dealer would pay 150 Euros into the fund from profits on each car they sell over the next three years. Eurdoa has acknowledge that its funds would only raise enough cash to finance a minority stake in Opel/Vauxhall, but it would give a clear message of support to the governments (Opel is German based while Vauxhall is UK based).
Opel/Vauxhall dealer associations will vote on the proposal in the coming weeks and a final vote will be held at the next Euroda meeting on May 15.
GM Europe, which runs Opel and Vauxhall, is asking European governments for help. GM is open to discussion on partnerships.
Source:autonews.com
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