The Proposed Acquisition of Opel Vauxhall Automotive Business by Groupe PSA is Approved by EU Antitrust Authorities
05 Juli 2017 - 5:36PM
Business Wire
Regulatory News:
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
1 In volume
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version on businesswire.com: http://www.businesswire.com/news/home/20170705005659/en/
Groupe PSAMedia contact: +33 1 40 66 42 00
–presse-psa@mpsa.com
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