General Motors and the PSA Group are proceeding with talks that entail the French automaker buying GM’s Opel division, which includes U.K.-only sister brand, Vauxhall. According to various reports, the parties are discussing a valuation of the Opel unit at $2 billion.
The automakers are said to be looking at reaching an agreement as soon as the end of next week. Further details surrounding the ongoing negations remain scarce, but we will be bringing you continued updates right here at GM Authority.
Comments
this goes fast 😉
Horrible–Opel product sold by other GM divisions comes out to 12 % of profit which easily covers GME losses.
An alliance, a JV, that would be understandable. I can’t believe SAIC is okay with Dongfang getting GMs best technology.
Opel it’s GMs highest quality work. Long-term, this will be GM when Opel his global.
First off, the figure touted is 2bn Euros, not 2bn Dollars. Second, there will inevitably be a licensing deal for the tech, meaning GM will be making recurring revenue off this deal. How much? We shall see.
Billion..
It’s dollars, Stef. Although it would make more sense if it were euros.
As the details roll out I expect GM will be at an advantage in the end and no longer eating the losses.
According to Automotive News Europe the figure is 2billion dollars not euros