Mar 05, 2017
PSA concern is close to acquiring a controlling stake in Opel from General Motors. According to Bloomberg, the two sides will continue talks on the weekend, but the deal could be announced as early as Monday, 6 March. The fact that the deal is close to completion, and shows scheduled for the next week meeting of GM and PSA unions.
Information about buying concern PSA Opel brand appeared in February this year. PSA spokesman confirmed that the company is in talks with an American concern. According to him, the deal will help deepen cooperation concerns. "We are in talks with Opel, to expand our existing projects», - PSA employee said. Further comment source refused.
According to Bloomberg, as a result of the transaction the share of PSA reaches 16% of the European market. In this case, the concern will be able to take the second place after Volkswagen AG in the region.
In March 2015, General Motors announced to withdraw from Russia after 20 years of presence in the market. This decision was taken due to the difficult economic situation and as a consequence of falling demand for new cars. Concern has stopped the sale of Opel and most Chevrolet models in the Russian market.