GM: Opel is not for sale

It was reported earlier yesterday by Reuters that German solar company SolarWorld has announced plans to purchase Opel from GM to create the “first green European automotive group.” SolarWorld said that it would cash out $1.3 billion for Opel and would offer 250 million Euros in cash and 750 million Euros in bank credit facilities. GM is now speaking out saying that its Opel brand is not for sale.

“This is pure speculation. Opel is not for sale,” GM Europe spokesman Nelson Silveira told Automotive News Europe.

SolarWorld CEO Frank Asbeck told Reuters yesterday that he had made a serious offer for Opel. He said that SolarWorld is looking to create the first completely “green” automotive company in Europe and said that the company is waiting on a response from GM. Well, we guess you know have your response Asbeck.