GM won't let Daewoo die in Europe.

General Motors pays $251 million (E278 million) in cash for 42.1 percent of new company. Unnamed GM affiliates pay $149 million for 24.9 percent of new company. Daewoo creditors get 33 percent of new company.

New company will sell parts to Daewoo plants it didn't buy for three years, except two years for Poland plant.

GM buys

In Europe:

* Dealer networks in Germany, France, Italy, Spain, the Netherlands, Belgium, Austria, Switzerland and Luxemburg

* European parts operation in the ...