General Motors announcements over the last few days are almost too much to keep up with. CEO Fritz Henderson has revealed that a state of controlled bankruptcy is likely as the process of cost-cutting and a government instigated restructure occurs.

The General Motors restructure might not yet affect its overseas operations, depending on how wide ranging the changes will be. But, in addition to selling off its Hummer brand, the Opel German brand is also looking for a split from the group.

General Motors is looking for a new owner for Opel, a process which it hopes will be concluded in the next 20 days. The issue is a delicate one as GM looks for approval from Germany as well, with the government likely to invest 2.6 billion euros in the new company. After a proposal from Fiat, the German economic minister is examining future plans for Opel, while GM has stated it would still like to be a minor shareholder in European operations.

Source | Autoblog via Motori24 and Autoweek

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