Henderson: GM to pick buyer for Opel by end of May

General Motors’ CEO Fritz Henderson said today that it will announce a buyer for Opel at the end of this month. He said the GM is currently speaking with multiple bidders and that the German government would not decide who will buy the brand.

“We are going to make sure any partner we pick is going to be suitable for them (the German government). We need their support,” Henderson said during a new conference, reports Automotive News.

The GM CEO said that Berlin will have major influence on who purchases Opel since it has been asked to provide 2.6 billion euros ($3.5 billion USD) in loan to finance a new company.

Henderson did not provide any information on how much GM is hoping to get for Opel.

So far Fiat and Magna International have shown interest in purchasing GM’s German brand.

– By: Omar Rana