Magna International (MGa.TO) does not believe its controlling stake in European automaker Opel will have a negative impact on its current customers, a top executive said on Monday.
Donald Walker, Magna's co-chief executive, told reporters at a news conference Magna executives have met with some automakers to discuss the deal and to reassure them there will be firewalls to preserve operations and to ensure confidentiality of advanced technology.
Our relationship should not be changing with key customers, Walker said.
I think we'll demonstrate to them (Opel) should not be a concern, Walker said.
Analysts have said Magna's push into the auto business risks its $23 billion business with established customers. Magna's major customers include General Motors Co GM.UL, Ford Motor Co (F.N), and Chrysler as well as Daimler AG (DAIGn.DE) and BMW (BMWG.DE).
GM agreed last week to sell a 55 percent stake in Opel to Magna and Russia's Sberbank.
Magna, a diversified automotive supplier, will be represented on the Opel board but Walker said operating decisions will be up to the directors and the Opel management team, not Magna.
(Reporting by John McCrank in Aurora and writing by John Crawley in Washington; Editing Bernard Orr)