A Canadian-Austrian parts manufacturer Magna, which is actually largely funded by a large Russian financial oligarchy and by a major Russian bank has become the new owner of GM's German Opel company in Europe, giving Russian overseas investments further major diversification of products and a stronger economic position once the global recession eases. The German is also expect to put about 2.1 billion dollars into Opel as well as financial backing.
Because of the relative economic strength of some major Russian and Chinese corporations and banks compared to the health of some major American industry groups such as GM, some American corporations are finding themselves prime targets for buyouts.
One thing is for certain here though. Russian cars never looked so good.
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