PSA gets board nod to buy Opel from GM
FRANCE’S PSA Group is set to announce a deal to buy Opel from General Motors today after striking an agreement with the US carmaker and winning the blessing of its board for the acquisition.
The maker of Peugeot, Citroen and DS cars said on Saturday that it would hold an early press conference today with GM, at which the transaction is expected to be presented.
By acquiring Opel, the French group will leapfrog rival Renault to become Europe’s second-ranked carmaker after Volkswagen by market share. Between them, PSA and GM Europe recorded 71.6 billion euros (US$76 billion) in revenue and 4.3 million vehicle deliveries last year.
The tie-up was approved on Friday by the PSA supervisory board, on which the French government, Peugeot family and China’s Dongfeng are represented as shareholders, one source with knowledge of the matter said.
Spokespeople for PSA and Opel declined further comment.
The two carmakers, which already share some production in an existing European alliance, confirmed last month they were negotiating an outright acquisition of Opel and its British Vauxhall brand by Paris-based PSA, sparking widespread concern over possible job cuts.
In their jointly issued invitation to a Paris press conference today, PSA and GM gave no indication of its subject. Separate briefings for the German press and Opel unions are expected to be held the same day.
GM’s European arm recently posted a 16th consecutive year of losses.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.