General Motors has invited several investors to hand in improved offers for its European operations, it emerged yesterday, as the US carmaker tried to put the screws on Magna, the frontrunner for the stake.
Beijing Automotive Industry Corporation (BAIC), the Chinese carmaker, aimed to hand in an enhanced offer for the GM business by the middle of July, several people briefed on the matter said.
Belgium-based financial investor RHJ International could also make a second offer for GM's cash-strapped European business, which includes Opel's operations in Germany, Spain and Belgium, as well as the Vauxhall unit in the UK, one person close to GM said.
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