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Opel dealers pool together to take stake in GM Europe

Opel dealers are looking to pool levies of €150 (£139) from each vehicle they sell to raise up to €400 million (£371m) over a three year period to help keep General Motors Europe afloat.

Euroda, the European organisation representing Opel and Vauxhall dealers, announced the plan which is putting together the fund in order to take a stake in the new company which will be created out of GM Europe.

GM Europe has officially welcomed the offer. Alain Visser, vice-president of Opel Europe, said: "Such a demonstration of solidarity comes at the right time.”

GM announced its intentions to separate its European operations off into a separate business earlier this month and is looking at outside investors to take up to a 50% stake in the business.

Euroda represents 4,000 dealers in 25 countries.

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