Acquisition of Opel Vauxhall by Groupe PSA approved

EU antitrust authorities have approved the proposed acquisition of US GM’s Opel/Vauxhall automotive business by Groupe PSA. This proposed acquisition, announced on March 6th of this year, will position French Groupe PSA as the second-largest automotive company in Europe and will serve as the basis of Groupe’s profitable growth worldwide. The proposed transaction also includes the acquisition of GM Financial’s European operations by BNP Paribas and Groupe PSA. This proposed acquisition of GM’s European financial operations is also subject to EU antitrust authority’s review and the decision is expected in the second half of this year.
On this occasion, Patrice Lucas, Manager of programs and Group, declared: “Today, we have taken a substantial step. The teams are now focused on the achievement of all other conditions necessary for the closing, planned for later this year”.
With sales and revenue of €54 billion in 2016, the Groupe PSA designs unique automotive experiences and delivers mobility solutions that provide freedom and enjoyment to customers around the world. The Group has three car brands, Peugeot, Citroën and DS, as well as a wide array of mobility and smart services under its Free2Move brand, to meet the evolving needs and expectations of automobile users.