Magna and Sberbank have changed their offer for General Motors’ former European unit Opel, a source familiar with the matter said. The person said that under the new bid, Magna and Sberbank would no longer own 20 per cent and 35 per cent of Opel respectively, as previously planned.

Each will now control a 27.5 per cent share. Sberbank is expected to pool its votes with Magna to ensure majority control.

This would make GM technically the largest shareholder at 35 per cent, while Opel staff would receive a 10 per cent stake. – (Reuters)