French concern PSA Group will expand

French concern PSA Group will expand

March 20, 2019 0 By autotimesnews

The leadership of the PSA Group is planning a partnership / merger agreement with some major automotive brands.

Having obtained full control over the German company Opel and its British subsidiary Vauxhall almost two years ago, the French concern wants to expand its business. The Italian-American concern Fiat Chrysler Automobiles, as well as the British company Jaguar, are reportedly considered as partners.

This is a rather bold plan, but it seems to have the support of the family holding company Peugeot FFP, which currently owns 13.68% of PSA Group and is one of its three main shareholders.

In a recent interview with the French edition of Les Echos, Robert Peugeot, president of Peugeot FFP, said his family supports all potential future agreements concluded.

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“We supported the plans to acquire Opel from the very beginning,” Mr. Peugeot told the newspaper. – If another similar opportunity appears, we will not mind. Our acquisition of a German company is an exceptional success. “

When asked about a potential deal with FCA, Mr. Peuget briefly added: “With them, we are ready to do business.” The US-Italian automaker is considered an attractive target for the PSA Group because of its presence in the United States and the Jeep brand in particular. In addition, FCA CEO Mike Manley commented that the company will consider “any deal that makes Fiat stronger.”

According to the latest reports, PSA Group CEO Carlos Tavares has already met with consultants to discuss future collaboration and merger.