PSA Peugeot – Citroen will pay 2.3 billion USD in Opel deal

PSA Peugeot – Citroen and General Motors have done it. Opel will be a part of the French group for 2.3 billion USD. As a result, PSA will become the second biggest car company in Europe, behind Volkswagen Group. 

According to the official statement, the deal includes all of Opel/Vauxhall’s automotive operations (Opel and Vauxhall brands, six assembly and five component-manufacturing facilities, one engineering center and about 40,000 employees). 

“We are proud to join forces with Opel/Vauxhall and are deeply committed to continuing to develop this great company and accelerating its turnaround,” said PSA’s chairman of the managing board, Carlos Tavares.

“We respect all that Opel/Vauxhall’s talented people have achieved as well as the company’s fine brands and strong heritage. We intend to manage PSA and Opel/Vauxhall capitalising on their respective brand identities. Having already created together winning products for the European market, we know that Opel/Vauxhall is the right partner. We see this as a natural extension of our relationship and are eager to take it to the next level”, added Tavares.