TORONTO, Nov 5 (Reuters) - Magna International Inc (MGa.TO)(MGA.N) is not looking at taking over any other automakers following the collapse of its deal to buy a stake in General Motors Co's [GM.UL] European operations, Spare parts the auto parts maker's co-CEO, Don Walker, said on Thursday.
GM's board of directors had approved the sale of a 55 Steel-Ring percent stake in Germany-based Opel to the Canadian company and its Russian backer Sberbank (SBER03.MM) for 500 million euros Auto Parts after months of negotiations.
But the board reversed its decision late on Tuesday, prompted by improved business conditions and the strategic importance of Opel as a small-car platform for GM going forward.[ID:nN05110811][ID:nL5184270]
"We're not looking at any other transactions in that space," Walker said in a conference call, responding to a query as to whether Magna might be looking at Ford Motor Co's (F.N) Volvo unit or GM's Saab.
"Right now we're focusing back on the core business, which is automotive parts, and we have no discussions going on right now on any other vehicle-type acquisitions."
The shares of Magna, which reported a surprise third quarter profit on Thursday, rose over 10 percent on Wednesday after the GM/Opel deal fell through.
