Rüsselsheim, Germany – The German government has provided an initial €300 million of the €1.5 billion bridge financing to Adam Opel GmbH to ensure that the European Opel/Vauxhall company continues its normal operations while parent company General Motors undergoes its court-supervised sale process in the U.S.

Adam Opel secured approval for the loan agreement with the German government on Monday. The funding provides sufficient time to finalize the partnership agreement with Canada’s Magna International Inc, which signed a memorandum of understanding with General Motors Europe.

With the funding, the European operations are isolated from any financial impact of GM’s situation in the U.S.

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