Final bids received for GMÔÇÖs Opel

US-based automotive firm General Motors (GM) has confirmed it has received three final offers for majority stakes in its European Opel unit. The bidders are Canadian car parts maker Magna, Belgian-based investment firm RHJ International and China's state-owned Beijing Automotive Industries Holding Co (BAIC). ┬á Canadian Magna remains the favourite to buy a majority stake in Opel, having made last-minute alterations to its bid by diluting its Russian backer Sberbank's stake to 27.5 per cent and upping its original 20 per cent stake to the same amount.  Magna and Sberbank would then own 55 per cent of Opel, with the remaining 35 per cent going to GM and the rest to Opel employees. "The final bids will now be analyzed and compared by GM," GM said in a statement. "The final bids as well as GM's preliminary findings will then be reviewed with the German and other impacted governments, the EU Commission and the Opel/Vauxhall Trust Board." RHJ is said to be seeking a 50.1 per cent stake in the company and BAIC a 51 per cent share.┬á Opel is currently under the ownership of a trustee in which both GM and the German government have a stake. GM is due to submit its preliminary findings on the bids to the German and other European governments on Wednesday. ┬á A recommendation is expected to be put to its board and the US Treasury next week.┬á *┬á┬á┬á┬á┬á┬á *┬á┬á┬á┬á┬á┬á *