Magna partners with Russian bank for Opel bid

TORONTO (Reuters) - Canadian autoparts maker Magna International (MGa.TO) said on Friday it has teamed up with Russian bank Sberbank Rossii (SBER03.MM) to make a nonbinding offer to invest 700 million euros ($980 million) in General Motors GM.N unit Opel.

Magna said a portion of its investment would be guaranteed by the German government.

Under the offer, GM would keep a 35 percent stake in Opel, while Sberbank would take 35 percent, Magna would get 20 percent and Opel's employees would get 10 percent.

"There is no assurance that any transaction will result from Magna's current involvement," the company said in a statement.

Magna's class A shares fell 77 Canadian cents to close at C$36.24 on the Toronto Stock Exchange on Friday. Magna released its statement after the market close.

(1 euro =$1.40)

($1=$1.12 Canadian)

(Reporting by Wojtek Dabrowski; editing by Peter Galloway)