In recent weeks, we are talking about the possible purchase of Opel/Vauxhall by the French multinational group PSA. Rumors and assumptions is finished. Today the French manufacturer has made official the acquisition of the German company belonging, until now, the Americans from General Motors. In this way, the PES Group will be made up of brands, Peugeot, Citroen, DS and Opel, which should become the second European manufacturer by number of sales, behind Volkswagen.
The agreement has been closed for almost 2,200 million euros. The Opel and Vauxhall brands represent the disbursement of 1,300 million from PSA, while the other 900 million euros correspond to the financing activities of these two firms General Motors, that have been purchased 50% between the PSA group and BNP Paribas. According to forecasts, the operation will be closed completely during the autumn.
Not only PSA has acquired a name, but that price includes six production lines, an engineering centre and about 40,000 employees. “The refinancing operations of Opel / Vauxhall are essential for the development of the Opel and Vauxhall brands.” We are proud to join forces with BNP Paribas, a European banking partner of the first order, and are convinced that our complementary experience will do that this new partnership will be a success,” said Carlos Tavares, Chairman of the Board of PSA.
Despite all these movements, it seems that the intention of the French manufacturer is not to transform completely the Opel brand, but keep the philosophy, style and, above all, the brand identity. At least, thats how I have commented in their press release. But is to be expected that in the medium term we see models of Opel using the platforms and components of Peugeot, and Citroen DS cars; Although the designs can follow the line of Opel’s design.