GM/Enasa
Page 8
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THE PROSPECT of General Motors taking a majority share in Enasa, the Spanish state-owned parent of Seddon Atkinson, has ended.
A feasibility study into a major joint business venture in Europe between the two commercial vehicle manufacturers was quietly concluded two weeks ago, four months after a decision should have been reached (CM February 2, 1985).
Neither company will say much about their talks which have gone on for 10 months, or what caused them to end unsuccessfully, but a GM spokesman in Detroit told CM that both parties had reached the conclusion that it was in their best interests not to go ahead.
the deal is off
It had been expected that GM would buy a majority shareholding in Enasa.
According to Bedford's general manager, J. T. Battenberg III, GM and Enasa are still holding talks on a number of other subjects, including the possibility of Bedford vans being sold in Spain through Enasa's dealers.
But GM is still thought to be seeking a collaboration with, or purchase o f, a European truck manufacturer. MAN and Leyland are among those which in the past have been reported to have been close to reaching an agreement with the corporation. Battenburg has confirmed that talks are going on with Leyland, without giving details.,