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Holden – European Future Under A Cloud As PSA Peugeot Citroen Looks To Acquire Opel And Vauxhall

Holden parent company General Motors is locked in high-level negotiations over the sale of its European operations, including the Opel and Vauxhall brands, to the French-based Groupe PSA, which controls Citroen, DS and Peugeot. The negotiations, confir


Holden parent company General Motors is locked in high-level negotiations over the sale of its European operations, including the Opel and Vauxhall brands, to the French-based Groupe PSA, which controls Citroen, DS and Peugeot.

The negotiations, confirmed on Tuesday, centre around plans for PSA to take a majority stake of General Motors' European subsidiary's Opel and Vauxhall in a deal that could have significant implications to the future of Holden.

Holden is relying heavily on Opel to supply a number of key European-built models, including the Astra and future generation Commodore, as it prepares to cease local production in October.

The local carmaker said previously more than one third of its Australian line-up post-2017 could come from Europe, but the loss of Opel to the GM umbrella could force Holden to change course.

"PSA Group confirms that, together with General Motors, it is exploring numerous strategic initiatives aiming at improving its profitability and operational efficiency, including a potential acquisition of Opel," Groupe PSA said in a statement, stopping short of revealing how far the talks had gone.

"There can be no assurance that an agreement will be reached."

In response, GM said the pair had been working together since 2012. 

Holden

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