IFLR1000

PSA Group €2.2 billion acquisition of Opel-Vauxhall

6/3/2017
Select tab

€ 2.2 billion

$ 2.330 billion

Announced

6/3/2017

Overview:

  • PSA Group is set to acquire General Motors (GM) European brands Opel and Vauxhall in a €1.8 billion deal.
  • The deal will see PSA pay €1.3 billion in cash and €650 million in warrants, according to Bloomberg.
  • French manufacturer PSA is the owner of the Citroen and Peugeot brands.
  • The combined group will have 28 production facilities across Europe and a 16% market share, making it the second biggest car manufacturer in Europe behind Volkswagen.
  • The deal will also see PSA (in joint venture with BNP Paribas) acquire GM's European finance division.
  • GM will continue to sell Chevrolets in the European market.
  • Bloomberg reports that the deal came about due to the division failing to break even in 2016.

Sam Duke - Editor

Jurisdictions:

France
Germany
Portugal
Spain
Switzerland
United Kingdom
Austria
Czech Republic
Hungary
Poland

Deal type:

Private acquisition

Practice area:

M&A

Governing laws:

France
Switzerland

Industry sector:

Automotive

Firms:
Bär & Karrer

Party: PSA Group (Acquirer)

Lawyer: Peter Hsu

Bredin Prat

Party: PSA Group (Acquirer)

Lawyers: Benjamin Kanovitch, Kate Romain, Olivier Saba

Cleary Gottlieb Steen & Hamilton

Party: General Motors (GM) (Seller)

Lawyers: Amélie Champsaur, Pierre-Yves Chabert

Hengeler Mueller

Party: PSA Group (Acquirer)

Lawyers: Christian Schwandtner, Dirk Bliesener, Matthias Hentzen, Maximilian Schiessl

Homburger

Party: General Motors (GM) (Seller)

Lawyer: Daniel Hasler

NautaDutilh

Party: PSA Group (Acquirer)

Related deals