GM Europe Fix to Cost at Least $1 Billion, Analysts Estimate
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General Motors Co., facing mounting losses in Europe, will have to spend at least $1 billion to revive its operations in the region, according to estimates from three analysts.
“The cost is likely to be steep and the savings not immediate,” Joseph Spak, an analyst at RBC Capital Markets in New York, wrote as lead author in a note to investors today. RBC estimates European restructuring expenses of $600 million this year and $400 million in 2013.