Industry Press Releases

The Proposed Acquisition of Opel Vauxhall Automotive Business by Groupe PSA is Approved by EU Antitrust Authorities

Thursday, Jul 06, 2017

Today, EU antitrust authorities approved the proposed acquisition of GM’s Opel/Vauxhall automotive business by Groupe PSA.

This proposed acquisition, announced on March 6th of this year, will position Groupe PSA (Paris:UG) as the second-largest automotive company in Europe1 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 strategy declares: “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”.

About Groupe PSA

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. The automobile manufacturer PSA is the European leader in terms of CO2 emissions, with average emissions of 102.4 grams per kilometre in 2016, and an early innovator in the field of autonomous and connected cars, with 2.3 million such vehicles worldwide. It is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia. Find out more at groupe-psa.com/en. Media library: https://medialibrary.groupe-psa.com/ / Twitter: @GroupePSA

Communications Division - www.groupe-psa.com - +33 1 40 66 42 00 - @GroupePSA

Contacts

Groupe PSA
Media contact: +33 1 40 66 42 00 –
presse-psa@mpsa.com

 

Source:businesswire.com

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