1 Oct 2009 18:12

Magna and Sberbank plan to sign agreement on Orel purchase in coming days

NIZHNY NOVGOROD. Oct 1 (Interfax) - Magna and Sberbank plan to sign an agreement on the purchase from General Motors of the German automotive concern Orel in the coming days, the CEO of Magna International, Siegfried Wolf, told journalists in Nizhny Novgorod on Thursday.

Wolf said the signing would take place in the coming days and that the sides were now looking a technical issues.

He added that no issues remained regarding access to intellectual property in regards to this deal. Wolf said this was very positive for Russian industry.