Russian lender OAO Sberbank demanded compensation from General Motors Co. for the failed deal to buy the U.S. auto maker's German subsidiary, Adam Opel GmbH, according to media reports.
GM should pay voluntary compensation for its decision in early November to scrap the selling of a 55% stake in the struggling Opel to Sberbank and Canadian auto-parts maker Magna International Inc. (MGA), reports stated, citing Sberbank's chief executive, German Gref.
Sberbank reportedly planned to take a 35% stake and Magna a 20% stake. The deal was courted in Russia as a major coup for the country's troubled carmaking industry, based on signals that Magna would produce Opel cars in Russia, reports stated.
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