PARIS--(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