Financial Times FT.com

GM’s Opel unit seeks German loan guarantees

By John Reed in London and Chris Bryant in Berlin

Published: November 14 2008 20:44 | Last updated: November 14 2008 20:44

General Motors’ Adam Opel unit is seeking loan guarantees from the German federal government and four states where it has plants to protect its business from GM’s worsening finances.

The move comes amid signs of tightening credit conditions for GM, which with Ford Motor and Chrysler is seeking a taxpayer-funded bail-out from the US Congress and is lobbying for aid from governments of some other foreign countries where it operates.

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