• Germany's news in English

Abu Dhabi may rescue Opel

DDP/The Local · 6 Apr 2009, 11:28

Published: 06 Apr 2009 11:28 GMT+02:00

Facebook Twitter Google+ reddit

Sheikh Hamdan Bin Zayed Al Nahyan, Deputy Prime Minister of Abu Dhabi told the Westdeutsche Allgemeinen Zeitung (WAZ) newspaper that there are state investment funds or private investors in the United Arab Emirates prepared to invest in the business. “I understand how important this question is for Germany,” he added.

“A decision has not been made yet,” Hamdan said, but added that he had been conferring with the leadership of the UAE on Opel’s situation over the weekend. Hamdan emphasised, “We are not just concentrating in this sector,” but assured WAZ that the UAE is very interested in investing in German industry in general. Apart from the auto industry, Abu Dhabi is apparently also interested in buying into renewable energy.

Hamdan said that a meeting with Jürgen Rüttgers, state premier of North Rhine-Westphalia, home of one of the threatened Opel factories, had been very positive. Everything now depends on further negotiations, he said. Rüttgers is said to have handed Hamdan a list of more than 20 companies interested in investors.

Opel is currently struggling to find an investor after a recent restructuring plan presented to the German government was coolly received. Opel’s parent company US car-giant General Motors asked for €3.3 billion in government investment and awaits a decision.

“There are endless possibilities,” Hamdan said, when asked about the chances for new financial partnerships in the global economic crisis. He also referred to a very recent precedent for such a deal: an Abu Dhabi investment fund bought a 9.1 percent share in Germany’s car manufacturer Daimler last month.

Story continues below…

Hamdan is said to be sympathetic to Germany. He is active in an Emirate-German friendship society of which Gerhard Schröder is also a member, and German President Horst Köhler has awarded him the Federal Order of Merit.

DDP/The Local (news@thelocal.de)

Facebook Twitter Google+ reddit

Today's headlines
Obama to visit Berlin in last presidential trip to Germany
President Barack Obama and Chancellor Angela Merkel during a Berlin trip in 2013. Photo: DPA.

The White House announced on Tuesday that US President Barack Obama will be paying one last unexpected visit to the German capital - his last before he leaves office.

Hostility towards minorities 'widespread in Bavaria'
A village in southern Bavaria. Photo: DPA.

Hate and hostility towards groups deemed to be different are not just sentiments felt by fringe extremists, a new report on Bavaria shows.

Hated RB Leipzig emerge as shock challengers to Bayern
RB Leipzig. Photo: DPA

RB Leipzig's remarkable unbeaten start to the Bundesliga season has seen them suddenly emerge at the head of the pack chasing reigning champions and league leaders Bayern Munich.

Munich taxi driver in hospital after attack by British tourists
Photo: DPA

A taxi driver had to be hospitalized in Munich on Monday evening after three British tourists refused to pay their fare and then attacked him.

German police carry out nationwide anti-terror raids
Police outside a building in Jena during raids on Tuesday. Photo: DPA

Police forces in five German states carried out raids on Tuesday morning with the aim of tackling the financing of terror groups, police in Thuringia have reported.

The Local List
10 ways German completely messes up your English
Photo: DPA

So you've mastered German, but now it's time to learn English all over again.

Iconic German church being eroded away by human urine
Ulm Minster towering over the rest Ulm surrounding the Danube. Photo: Pixabay

It will now cost you €100 to spend a penny. That’s if you get caught choosing to pee against the world-famous Ulm Minster.

German small arms ammo exports grow ten-fold
Photo: DPA

The government has come in for criticism after new figures revealed that Germany exported ten times the quantity of small arms ammunition in the first half of 2016 as in the same period last year.

14-year-old stabs 'creepy clown' in prank gone wrong
File photo: DPA.

A 16-year-old in Berlin decided he wanted to scare some friends, but his plot backfired in a violent way.

Four Ku Klux Klan groups active in Germany, says govt
An American member of the KKK at a gathering in Georgia. Photo: EPA.

The German government estimates that there are four Ku Klux Klan (KKK) groups currently active in the country, according to a report by the Süddeutsche Zeitung (SZ) on Tuesday.

Germany's 10 most weird and wonderful landmarks
Sponsored Article
Last chance to vote absentee in the US elections
10 things you never knew about socialist East Germany
How Germans fell in love with America's favourite squash
How I ditched London for Berlin and became a published author
12 clever German idioms that'll make you sound like a pro
23 fascinating facts you never knew about Berlin
9 unmissable events to check out in Germany this October
10 things you never knew about German reunification
10 things you're sure to notice after an Oktoberfest visit
Germany's 10 most Instagram-able places
15 pics that prove Germany is absolutely enchanting in autumn
10 German films you have to watch before you die
6 things about Munich that’ll stay with you forever
10 pieces of German slang you'll never learn in class
Ouch! Naked swimmer hospitalized after angler hooks his penis
Six reasons why Berlin is now known as 'the failed city'
15 tell-tale signs you’ll never quite master German
7 American habits that make Germans very, very uncomfortable
Story of a fugitive cow who outwitted police for weeks before capture
Eleven famous Germans with surnames that'll make your sides split
The best ways to get a visa as an American in Germany
jobs available
Toytown Germany
Germany's English-speaking crowd