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Carmaker GAZ has the role of "industrial partner" in a bid submitted by Canadian auto-parts maker Magna for German carmaker Opel, the Russian company said Thursday.
"We believe the bid has been placed, and we have a role of industrial partner in this process, as we have production capacities, competence and experience in producing components locally," said Yelena Matveyeva, deputy head of GAZ.
The German government set a Wednesday deadline for bids for Opel, a unit of struggling U.S. carmaker General Motors Corp.
Italian Fiat has submitted an offer for GM's Opel and British brand Vauxhall, and a financial source said Belgium-based holding company RHJ International had also bid.
GAZ said last week that it would be interested in creating a joint venture with Magna and Opel should the latter be acquired by a group of investors.
GAZ's Role In Opel Bid
22 May 2009
Reuters
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