The car expert

6 May 2009 By Pierre Briancon

Russian oligarch Oleg Deripaska might join Canadian carparts maker Magna in bidding for GM s European subsidiary. Deripaska already controls one nearbankrupt company, Russia s Gaz. It s hard to see what he could bring to Opel.

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Gaz, the Russian automobile company, has confirmed it has been invited in participating in a bid for Opel, the European arm of General Motors, German daily Handelsblatt reports.

Jurgen Reinholtz, a minister in the regional government of Thuringe, earlier this week said that Canadian auto parts maker Magna, Gaz and Sberbank, Russia's largest banks, were teaming up to offer buying the troubled German auto company.

Oleg Deripaska, deemed Russia's richest man before the financial crisis hit Russia, is the controlling shareholder of Gaz.

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