Hengeler Mueller advises PSA on acquisition of GM’s Opel/Vauxhall
06. March 2017
Groupe PSA (“PSA”) and General Motors Co. (“GM”) today announced an agreement under which PSA will acquire GM’s Opel and Vauxhall businesses in a transaction valuing these activities at EUR 1.3 bn. PSA, together with BNP Paribas, will also acquire all of GM Financial’s European operations, valued at EUR 900 m, through a newly formed 50%/50% joint venture that will retain GM Financial’s current European platform and team. With the addition of Opel/Vauxhall, which generated revenue of EUR 17.7 bn in 2016, PSA will become the second-largest automotive company in Europe, with a 17% market share. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close before the end of 2017.
Hengeler Mueller is advising PSA on the transaction in an integrated team with Best Friends law firm Bredin Prat. The Hengeler Mueller team includes partners Christian Schwandtner, Maximilian Schiessl and Matthias Hentzen (all Corporate/M&A, Düsseldorf), Christian Hoefs (Labour/Pensions), Dirk Bliesener (Banking and Regulatory), Martin Klein (Tax) (all Frankfurt) and Dirk Uwer (Regulatory, Düsseldorf), counsel Patrick Wilkening (IP, Düsseldorf) as well as associates Gerrit Forst, Maximilian Schauf and Ute König (all Corporate/M&A, Düsseldorf), Peter Wehner (Labour/Pensions), Jan Steffen and Alexander von Jeinsen (both Banking and Regulatory), Marius Marx and Steffen Hörner (both Tax) (all Frankfurt), Deniz Tschammler (Regulatory) and Maximilian Wosgien (IP) (both Düsseldorf), Conrad Ruppel (Corporate/M&A, Frankfurt), Vicki Treibmann (Labour, Düsseldorf) and Martin Tasma (Corporate, Berlin).
The Bredin Prat team includes partners Benjamin Kanovitch, Kate Romain (Corporate/M&A), Yves Rutschmann (Tax) and Olivier Saba (Banking and Regulatory) (all Paris).