(Reuters) - Magna, whose board approved the $1.54 billion investment by
Deripaska late on Wednesday, is betting that the Russian market
will prove much richer than the depressed North American auto
market.
Under the deal, Deripaska would get 20 million common
shares of Magna, as well as six spots on the 14-seat board of
directors of a new entity that will control Magna, which is one
of North America's biggest auto-parts makers.
Read more at Reuters.com Mergers News
Deripaska late on Wednesday, is betting that the Russian market
will prove much richer than the depressed North American auto
market.
Under the deal, Deripaska would get 20 million common
shares of Magna, as well as six spots on the 14-seat board of
directors of a new entity that will control Magna, which is one
of North America's biggest auto-parts makers.
Read more at Reuters.com Mergers News
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