General Motors (GM) is said to be in talks for the sale of its European operations, including the Opel and Vauxhall brands, to the PSA Group, the parent company of Citroën, DS and Peugeot, according to reports by Reuters and Deutsche Press Agency (DPA).
The rumoured talks, which Reuters describes as being at an advanced stage, are said to centre on plans for the PSA Group to take a majority stake in GM’s European subsidiaries, Opel and Vauxhall, in a deal that could have significant implications for the European automotive industry.
GM, however, has made no official confirmation of the sale.
PSA has previously confirmed it was in direct dialogue with GM, but indicates its dealings with Opel and Vauxhall have recently moved towards the possible expansion of current projects, including plans that will lead to various models between the two car makers sharing common platforms and drivelines.
Dipan Sur
Viraaj Bhatnagar
Glenn Noronha
Dhruv Dhaka
