General Motors, Sberbank Reach Deal On Failed Opel Sale

MOSCOW -(Dow Jones)- General Motors Co. and OAO Sberbank (SBER.RS) said Monday they have reached a deal on compensation claims made by the Russian bank after the U.S. auto giant dropped plans to sell its Opel unit.

"Sberbank and General Motors announce that they have reached a resolution on mutually acceptable terms of all Sberbank compensation claims arising out of General Motor's decision not to sell a majority stake in Adam Opel GmbH," the companies said in a joint statement.

No details were disclosed.

GM in November scrapped plans to sell a 55% stake in Opel to Canadian auto parts maker Magna International Inc. (MG.A.T) and Sberbank, despite a preliminary deal reached after months of talks.

Company Web site: www.sberbank.ru

-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495 232 9197; jacob.pedersen@dowjones.com

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