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Two versions of Fiat offer to GM - report

Thu May 21, 2009 11:35pm IST
 
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MILAN, May 21 (Reuters) - Italian car maker Fiat SpA (FIA.MI: Quote, Profile, Research) submitted two versions of its offer for General Motors Corp's GM.N Opel and Vauxhall units, one with and another without a bid for GM's Latin American operations, Automotive News reported on Thursday.

The offers were submitted on Wednesday to Dresdner Kleinwort, a unit of Germany's Commerzbank AG (CBKG.DE: Quote, Profile, Research), the newspaper said in a report on its website, citing people familiar with the matter as the source of the information.

Fiat, which also wants Saab, said it did not include GM's Swedish brand in its Opel bid because its sale is part of a separate process, Automotive News said.

Fiat and Canadian-Austrian car parts group Magna International Inc (MGa.TO: Quote, Profile, Research) submitted proposals on Opel to the German government on Wednesday. [ID:nLL142192]

A financial source familiar with the situation told Reuters that Brussels-based industrial holding RHJ International SA (RHJI.BR: Quote, Profile, Research) also submitted a bid.

(Reporting by Ian Simpson)

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