PSA Group chief Carlos Tavares plans to leave the management team at Opel, including its CEO Karl-Thomas Neumann, in office following a possible acquisition from General Motors. The report comes from German publication Manager Magazin, citing sources close to negotiations between the two automakers.
Meanwhile, GM chief Mary Barra has stated that the carmaker will remain an independent company if a deal is reached to sell the unit to PSA, which has apparently valued the unit at $2 billion in sell-off discussions.
GM and PSA are in ongoing negotiations that could result in PSA buying GM’s European Opel and Vauxhall brands along with the associated operations. The development could have significant ramifications on both automakers as well as the global auto industry.