The proposed acquisition of Opel Vauxhall automotive business by Groupe PSA is approved by EU antitrust authorities

Wed, 05/07/2017 - 17:15

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 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”.

1 In volume