Who owns opel 2017

GM will not have governance or voting rights with respect to PSA and has agreed to sell the PSA shares received upon exercise of the warrants within 35 days after exercise. GM will retain the engineering center in Torino, Italy.

The transaction is subject to various closing conditions, including regulatory approvals and reorganizations, and is expected to close before the end of Find out more at groupe-psa. It should be noted that the realization of these objectives and forward-looking statements is dependent on the circumstances and facts that arise in the future.

Forward-looking statements and information about objectives may be affected by known and unknown risks, uncertainties and other factors that may significantly alter the future results, performance and accomplishments planned or expected by PSA Group. These factors may include changes in the economic and geopolitical situation and more generally those detailed in Chapter 1. In making these statements GM relies on assumptions and analyses based on its experience and perception of historical trends, current conditions and expected future developments as well as other factors GM considers appropriate under the circumstances.

One scenario already mentioned by GM sources in discussions with Autocar is the possibility of a sweeping consolidation of Vauxhall's operations in the UK, with the brand name consigned to history and replaced by Opel — a move that was seriously considered by GM following the financial crisis of but ultimately decided against. The US car making giant initially expected a return to profitability in PSA itself came close to bankruptcy in following years of mounting losses.

In a company-saving measure, the Peugeot family was forced to sell Shortly afterwards, PSA sought a strategic alliance with Opel with a view to joint development of a number of key platform architectures — a move that led to the two establishing a close working relationship and the foundation for the buyout negotiations. Advertisement Back to top Despite PSA's financial rehabilitation through the establishment of key shareholdings by the French government and Dongfeng and sweeping cost-cutting initiatives instigated by its Portugese-born boss Tavares, PSA's grip on the European market has loosened in recent years.

In , the French car maker captured a However, this was reduced to 9. Related articles. Latest Drives. Ferrari Competizione review. Cupra Formentor VZ2 1. View all latest drives. Read our review Car review. Vauxhall Insignia Read our review. The PSA Group sold 3. Talking on the subject of Brexit, he added: "Nobody knows how it is going to unfold.

How the sale could impact on Vauxhall's UK manufacturing plants Prime Minister Theresa May has previously spoken with Tavares about Vauxhall's UK plants, as well as a shared desire to "protect and promote" the jobs associated with them, according to a government spokesperson.

However, there is still uncertainty over the implications on UK jobs given Tavares' confirmation of a cost-cutting plan to bring economies of scale. What happened last time Peugeot bought a car company GM's Vauxhall plants in Ellesmere Port and Luton together employ staff, while thousands more work in Vauxhall's UK showrooms and supply chain. In a letter to Opel and Vauxhall employees when the news first broke, GM boss Mary Barra asked for understanding and approval of the possible sale of GM Europe's operations, including the Opel and Vauxhall brands.

How the deal unfolded, and the market position of Vauxhall and Opel The story broke in the last week of February that GM was in high-level negotiations for the sale of its European operations. The US carmaker had not posted a full-year profit in its European operations since We're no longer maintaining this page. GM app lets you order coffee while you drive. CNNMoney Sponsors. SmartAsset Paid Partner.