Fully official: Opel has been acquired by the PSA Group

Grupo PSA Logotipo

In the last few weeks we are talking about the possible purchase of Opel/Vauxhall by the multinational French Group PSA. Gone are the rumors and assumptions. Today the French manufacturer has formalized the acquisition of the German firm belongs, up to now, the americans from General Motors. In this way, the PSA Group will be composed by the marks Peugeot, Citroën, DS and Opel, which should become the second european manufacturer by number of sales, behind Volkswagen.

The agreement has been closed by almost 2,200 million euros. The brands Opel and Vauxhall account for disbursement of 1,300 million by PSA, while the other 900 million euros correspond to the financing activities of these two firms, General Motors, which have been purchased at 50% between the PSA Group and BNP Paribas. According to the forecasts, the transaction will be fully closed during the autumn.

PSA Opel Vauxhall Luton

PSA has not only acquired a name, but in the price are included six assembly lines, an engineering center and about 40,000 employees. “Financing operations of Opel / Vauxhall are essential for the development of the brands of Opel and Vauxhall. We are proud to join forces with BNP Paribas, a banking partner a european of the first order, and we are convinced that our complementary expertise will make this new partnership a success.” commented Carlos Tavares, President of the Board of Directors of PSA.

in Spite of all these movements, it seems to be that the intention of the French manufacturer is not to completely transform the Opel brand, but maintain the philosophy, style and, above all, the brand identity. At least, that is what you have mentioned in your press release. But it is expected that in the medium term let’s look at models of Opel, using the platform and components of cars of Peugeot, Citroën and DS; although the designs can continue the design line of Opel.