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Groupe PSA Opel Vauxhall Purchase Approved By EU Photo:
 
 
Trevor Collett | Jul, 10 2017 | 0 Comments

A small but significant step in Groupe PSA’s takeover bid for Opel and Vauxhall has been realised, with the transaction getting the green light from the European Union.

Once the paperwork has been finalised, the Groupe will become Europe’s second-biggest carmaker taking in Opel, Vauxhall, Peugeot, Citroen and DS.

Such a large acquisition may have caught the eye of the anti-competition police, but the EU sees no such problems.

"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," PSA’s Patrice Lucas said, speaking with industry paper Automotive News.

The combined resources of the new Groupe could result in cost savings of €1.7 billion, which PSA hopes will result in operating profits for both Opel and Vauxhall of two percent within three years and six percent by 2026.

While the deal is in the wash, the outcome for Holden in Australia is still unclear as to the future supply of Opel-sourced Commodore and Astra models - and potentially others.

Groupe PSA will be second only to the Volkswagen Group in Europe once the takeover becomes reality, provided the EU’s antitrust panel also rubber stamps the transaction.

MORE: Peugeot And Citroen Look To Post-2020 Debut For Self-Driving Technologies
MORE News & Reviews:
Groupe PSA | Opel | Peugeot

 
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