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Talks between PSA Group (Peugeot-Citroen's parent company) and General Motors (GM) about the sale of the US company's European operations, namely Opel and Vauxhall, are said to be at an advanced stage.
Although GM has yet to confirm or deny that any negotiations are taking place, PSA confirmed earlier today (14 February) that talks about a number of potential strategic partnerships between the two companies, including the possible purchase of Opel/Vauxhall by PSA Group, had occurred.
PSA said in a statement that "PSA Group confirms that, together with General Motors, it is exploring numerous strategic initiatives aimed at improving its profitability and operational efficiency, including a potential acquisition of Opel. There can be no assurance that an agreement will be reached."
GM and PSA Group have been working together on various technical collaborations, including three projects in Europe since 2012, which, according to the statement released by PSA has generated "substantial synergies for the two groups".
The statement went on to say that "within this framework, General Motors and PSA Group regularly examine additional expansion and cooperation possibilities as well". Rumours have circulated recently that GM and PSA were looking at possible platform sharing, as well as other technical collaboration opportunities.
Nothing is set in stone as yet, although more information is likely to be forthcoming in the coming days and weeks. We have approached Vauxhall UK for comment.
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