Peugeot buys Opel from General Motors | RetailDetail

Peugeot buys Opel from General Motors

Peugeot buys Opel from General Motors

French car company PSA Peugeot Citroën has paid 2.2 billion euro to acquire German car brand Opel from its current owner, American General Motors. Thanks to the deal, PSA Peugeot Citroën will become Europe's second largest car manufacturer.

16 percent market share

It was a well-known fact that Peugeot and General Motors were talking, but several weeks of discussions have now led to a deal. Peugeot will pay 1.3 billion euro to acquire Opel and its British affiliate brand Vauxhall and another 900 million alongside BNP Paribas to acquire GM Financial's European activities. 


The transaction should be finalized by the end of the year, both companies hope. Peugeot hopes to find 1.7 billion euro in synergies thanks to the Opel acquisition by 2026.


Despite major concerns in Germany and the United Kingdom, PSA Peugeot Citroën CEO, Carlos Tavares, said no jobs will be lost in the transaction.


The deal may even be good news for the struggling Opel brand, which has suffered an 8 billion euro loss since 2009. PSA's European market share also stands to gain from the deal, as it will now rise to 16 %. It will have surpassed Renault, but still trails Volkswagen. The move is also beneficial to GM, which wanted to get out of the European market for a while now after seeing it could not replicate its North American success here.

Questions or comments? Please feel free to contact the editors

Gerelateerde items

Duvel Moortgat adds Italian brewery


Duvel Moortgat increased its minority stake in Italian brewery Birrificio del Ducato to 70 %. The Belgian brewery, known for Vedett, has been part of the brewery near Parma since 2016.

American chains consolidate to fight Amazon


American retailer Albertsons has acquired its competitor Rite Aid, after the latter had already sold a series of stores to Walgreens. The acquisitions are mainly a reaction to Amazon and other online players’ onslaught.

Monoprix wants to acquire web shop Sarenza


Store chain Monoprix, part of French Groupe Casino, entered negotiations to acquire online shoe seller Sarenza, one of France’s prime online brands.

Hudson’s Bay dismisses Galeria Kaufhof bid


German Signa Holding’s “unsolicited” bid for German department store chain Galeria Kaufhof has been rejected. Hudson’s Bay Company’s board, which currently owns the chain, unanimously voted no.

Bain Capital acquires stroller brand Bugaboo


Investment group Bain Capital acquired pram brand Bugaboo. It wants to enter a next phase of its growth strategy with the help of its new owner.

Irish company acquires Dole Food


Irish Total Produce has acquired American Dole Food, which previously was a target for Belgian Greenyard. At first, it will obtain 45 % of shares, but it has an option to buy the entire company.

Back to top