These days, no Christmas cheer is complete without a little Opel jeer. Russia’s Sberbank has demanded compensation from GM for reneging on the Opel deal, Sberbank CEO German Gref said in an interview on Russia’s Vesti television channel. Groveled a grouchy Gref:
“We have incurred significant costs. We have estimated all expenses and handed over a demand for voluntary compensation to the company. If the demand is not met, we will press for compensation by judicial means.”
Sberbank’s CEO complained that some 9,000 pages of contract had been drawn up over 9 months negotiations with GM, only for GM to withdraw two days before its planned signing, without providing any “essential explanations,” reports the Russian news agency Novosti.
Sberbank is said to be close to the Russian government, and if they file in Russia, they might find a sympathetic court. It wouldn’t be the first time that GM had to pay after a deal went kaput. Fiat received $2b of go-away money from GM after their romance soured.