BERLIN, Germany - The Opel Trust has given its approval for the sale of General Motors Co's European unit Opel to a consortium of Canada's Magna International Inc. (TSX:MG.A) and Russian lender Sberbank.
Fred Irwin, who chairs the government-backed trust set up to oversee Adam Opel Gmbh before GM's bankruptcy, had final say on the deal.
The trust holds 65 per cent the company whose brands include Britain's Vauxhall; GM held the other 35 per cent.
Irwin said the company is confident that the decision will lay the foundation for a successful future of the Opel and Vauxhall brands.
