GM plans sale of Vauxhall and Opel brands to PSA
Talks between General Motors and the parent company of Citroën, DS and Peugeot are said to be at an advanced stage
General Motors (GM) is said to be in talks for the sale of its European operations, including the Opel and Vauxhall brands, to the PSA Group, the parent company of Citroën, DS and Peugeot, according to reports by Reuters and Deutsche Press Agency (DPA).
The rumoured talks, which Reuters describes as being at an advanced stage, are said to centre around plans for the PSA to take a majority stake in GM’s European subsidiaries, Opel and Vauxhall, in a deal that could have significant implications for the European automotive industry.
GM has made no official confirmation of the talks for the sale of the two brands to PSA.
PSA has previously confirmed it was in direct dialogue with GM, but indicates its dealings with Opel and Vauhall have recently centred around the possible expansion of current projects, including plans that will lead to various models between the two car makers sharing common platforms and drivelines.
Source: Autocar Online