FRANKFURT, June 15 (Reuters) - Manfred Wennemer, former chief executive of German car parts maker Continental AG, will represent Berlin on an advisory board overseeing the trust that administers Opel, sources familiar with the situation said on Monday.
Wennemer, who declined comment, ran Continental until his resignation last August following his defeat in a bitter takeover battle waged by bearings maker Schaeffler.
The trust, which holds 65 percent of Opel shares, is charged with ensuring that 1.5 billion euros ($2.1 billion) in bridge financing offered by Berlin and the four German states with Opel plants is not misappropriated.
Berlin and the states agreed with former Opel parent General Motors Corp and the U.S. Treasury to create the trust to administer Opel during GM's Chapter 11 bankruptcy until a new Opel investor is found.
GM is negotiating a deal for Opel with Canadian group Magna and its Russian partners.
The other four members of the advisory board are comprised of two GM delegates, a representative of the four German states and one neutral party.
GM named GM Europe finance chief Enrico Digirolamo and GM Vice President of Global Product Planning, John Smith, who represented the Detroit parent in rescue talks with German officials last month in Berlin.
The state of Hesse's economy minister, Dieter Posch, said in a statement on Monday the four German states had appointed Dirk Pfeil, treasurer of Hesse's Free Democratic Party, to represent their interests.
The president of the board of directors of the American Chamber of Commerce in Germany, Citigroup's Fred Irwin, will serve as the independent member of the advisory body. (Reporting by Angelika Gruber, Andreas Moeser and Christiaan Hetzner; Editing by David Holmes) ($1=.7203 Euro)