Orrick partner Jean-Pierre Martel is advising EPF and FFP, the holding companies of the Peugeot family group, in connection with the PSA Group’s acquisition of the European platforms of General Motors. The transaction is expected to close later this year.
Under the terms of the agreement, GM’s Opel and Vauxhall brands will join the PSA Group. PSA, together with BNP Paribas, will also acquire all of GM Financial’s European operations through a newly formed joint venture that will retain GM Financial’s current European platform and team.
With this transaction, PSA will become the second-largest automotive company in Europe (next to market-leader Volkswagen) with a 17 percent market share, forming a strong foundation to support PSA’s profitable growth worldwide.