FACTBOX-Key elements of Magna-led takeover of Opel

May 30 (Reuters) - Germany has clinched a deal with Canadian auto parts group Magna (MGa.TO: Quote, Profile, Research), General Motors GM.N and the U.S. government to save carmaker Opel from the imminent bankruptcy of its U.S. parent.

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Below are the key developments in the deal.

CORNERSTONES OF DEAL

1. Magna will take over parts of the new European Opel activities from parent General Motors. This is, however, so far only included in a letter of intent and legally not yet binding. Magna could, in theory, still bail out.

2. Germany to provide 4.5 billion euros in loan guarantees including a bridge loan worth a maximum of 1.5 billion euros from state banks, which will be evenly divided by the federal government on the one side and the four state governments with Opel plants on the other: Hesse, North Rhine-Westphalia, Thuringia and Rhineland-Palatinate.

3. Magna will loan Opel 300 million euros to cover short-term liquidity needs. Longer-term, Magna and Russian partner Sberbank (SBER03.MM: Quote, Profile, Research) plan to inject 500-700 million euros into Opel. None of the funds would be paid to GM.

4. A trustee scheme to prevent the parts of Opel in Europe that can survive from getting caught in any turbulence over GM. The trustee will be led by five people -- two picked by the German government and two from U.S. side. A fifth neutral representative will be included. The most important parts of GM's European operations will be put into the trustee, which will seek investors and take key decisions. It will have to be dissolved by 2014 at the latest.