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Solar panel maker makes bid for Opel

 
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thos



Joined: 08 Mar 2005
Posts: 1139
Location: Jauche, Duchy of Brabant (Bourgogne-ci) and Charolles, Duchy of Burgundy (Bourgogne-ça)
PostPosted: Wed Nov 19, 08 2:06 pm    Post subject: Solar panel maker makes bid for Opel Reply with quote
    

https://www.rtlinfo.be/rtl/news/article/197426/--Le+monde+a+chang%C3%A9%3A+une+entreprise+d%C3%A9nergie+solaire+veut+racheter+Opel

Solarworld, with 2,000 employees making solar panels, has just offered 1 milliard euros to buy Opel, with 26,000 employees. Their stated intention is to make Opel the premier constructer of green cars in Europe.

The deal is €250m cash and €750m bank loan, but they want GM to pay compensation of €40K per employee (which works out at 1 milliard euros).

Anybody reminded of the South Seas Company?

tahir



Joined: 28 Oct 2004
Posts: 45389
Location: Essex
PostPosted: Wed Nov 19, 08 2:26 pm    Post subject: Reply with quote
    

Long shot but it could work out, as I understand it they are the first totally vertical PV manufacturer and will allegedly reduced the price of panels by a factor of 10 in the not too distant future.

James



Joined: 11 Jan 2006
Posts: 2866
Location: York
PostPosted: Wed Nov 19, 08 2:36 pm    Post subject: Reply with quote
    

GM may be pleased to sell becuase they're desperate for every bit of cash they can get their hands on becuase they've lost the battle for economic cars which is the only safe market to be in at the mo.

thos



Joined: 08 Mar 2005
Posts: 1139
Location: Jauche, Duchy of Brabant (Bourgogne-ci) and Charolles, Duchy of Burgundy (Bourgogne-ça)
PostPosted: Wed Nov 19, 08 2:43 pm    Post subject: Reply with quote
    

James wrote:
GM may be pleased to sell becuase they're desperate for every bit of cash they can get their hands on becuase they've lost the battle for economic cars which is the only safe market to be in at the mo.

So I can't see their going for this, which would leave them €750m cash out of pocket.

Behemoth



Joined: 01 Dec 2004
Posts: 19023
Location: Leeds
PostPosted: Wed Nov 19, 08 2:44 pm    Post subject: Reply with quote
    

But their long term pension liability etc is gone?

James



Joined: 11 Jan 2006
Posts: 2866
Location: York
PostPosted: Fri Nov 21, 08 10:36 am    Post subject: Reply with quote
    

...as are the ongoing costs of running production lines that arent selling cars.

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