PSA gets go ahead
- 06/07/2017
- Posted by: Simon Wait
- Category: News
PSA Group’s acquisition of the Vauxhall and Opel brands has been given the go ahead by the European Commission.
The commission said it had ‘unconditionally approved’ Peugeot’s move to buy the European division of General Motors (GM). It concluded that ‘the transaction would raise no competition concerns in the relevant markets’.
GM agreed the sale of its European division, on which it has not made a profit since 1999, to Peugeot in March.
The deal will mean that Peugeot becomes Europe’s second-biggest carmaker, after Volkswagen.
The European Commission stated that its investigation ‘showed that the merged entity will still face strong competition from manufacturers such as Renault, Volkswagen, Daimler, Ford, Fiat and various Asian competitors.’
