PEUGEOT / CITROEN buys OPEL / VAUXHALL * France
* Paris - PSA Group (Peugeot Citroen) buys Opel / Vauxhall
PSA Group (Peugeot Citroen) has taken over Opel/ Vauxhall. With the new addition, which generated revenue of €17.7 billion in 2016, PSA will become the second-largest automotive company in Europe, with close to a 17 per cent market share... General Motors Co. and PSA Group today announced an agreement under which GM’s Opel/Vauxhall subsidiary and GM Financial’s European operations will join the PSA Group in a transaction valuing these activities at €1.32 billion( €650m in cash and €670m in PSA share warrants) and €0.9 billion, respectively. PSA and BNP Paribas have agreed to jointly acquire Opel/ Vauxhall’s captive financing activities and have entered into a long-term strategic partnership around the Opel and Vauxhall brands... PSA Group expects his strong and balanced presence in its home markets will serve as the basis of profitable growth worldwide. It has vowed to return Opel and its British Vauxhall brand to profit...
Paris, France - Transport Parts, by Padraic Deane - March 6, 2017
Labels: truckmakers news France