The new group will have 5 marks.
it’s official, the PSA Group has revealed makes scant minutes ago with Opel and that the total amount of the operation amounts to 2,200 million euros, creating the second largest corporation automotive of Europe.
According to the figures provided by PSA, the acquisition of Opel / Vauxhall will generate an annual saving of 1,700 million euros for the group galo from 2026. The goal is that Opel has an operating profit of 2 percent in 2020 and to rise steadily to 6 percent in 2026.
The purchase agreement includes both the brands Opel and Vauxhall as its facilities in Germany, United Kingdom and Spain, as well as the financial arm of GM Europe, whose purchase has been carried out in combination with the French bank BNP Paribas, which it has done with the 50 per cent of the financial division by approximately 450 million euros.
Facilities of PSA.
In regards to General Motors, in addition to 2,200 million dollars, of which have yet to be confirmed how much will be in cash, this shall dispose of a bill considerable, the loss of Opel, which since 2009 have already added 9,000 million dollars.
After this announcement it remains to be seen what will be the new roadmap for the new Opel and its industrial network, which covers several factories in 3 different countries. For the moment, the agreement also includes collaboration with some brands of GM, as Holden and Buick, to whom Opel manufactures several of their current models, as well as the joint development of fuel cell technology.
What is expected is that PSA move to Opel the same policy that has
gotten that the French group’s return to the benefits in just a few
years. What is included in the step of the psa Peugeot Citroën the removal of the
models less profitable, pay freeze and cuts in the force
of work. With this system, PSA went from losses in 2012 to
dividends in 2016.