PSA Group wants to expand and may buy Fiat-Chrysler or Jaguar Land Rover

PSA Group wants to expand and may buy Fiat-Chrysler or Jaguar Land Rover

PSA Group, the second largest company in Europe, is looking at new acquisitions or possible mergers. After taking control of Opel (and its British Vauxhall division) almost two years ago, the French company now has plans to grow internationally and enter markets such as North America. For that, it will be considering acquiring another car manufacturer, such as Fiat-Chrysler or Jaguar Land Rover.

This goes beyond the rumors, as the Peugeot family, represented by Robert Peugeot, has announced that it supports the plan to buy another manufacturer, as the French publication indicates. Les Echos. Peugeots own 13.68% of PSA’s shares and are one of the manufacturer’s three largest shareholders.

“We supported the Opel project from the beginning,” Peugeot told the magazine. “If another chance comes up, we won’t stop. Carlos [Tavares, CEO da PSA] know this. The Opel operation is exceptionally successful, we didn’t think his recovery would be so quick.”

When asked about a possible deal with Fiat-Chrysler, Peugeot said: “With them, as with others, the planets can align.” The Italian-American manufacturer is seen as an attractive target for PSA for its American shares and the Jeep brand. In addition, Mike Manley, CEO of FCA, commented at the Geneva Motor Show that the company will study “any plan that makes Fiat strong”.

People following the matter closely told Automotive News and Bloomberg that Tavares still sees General Motors as a potential partner or even a candidate for a merger. Jaguar Land Rover could also be another strong possibility – even more so because the company is currently going through austerity, which would leave it more open to negotiations.

Recently published reports say that Carlos Tavares has already met with some directors to discuss a future partnership or merger. Contrary to rumours, this deal is still in the early stages and the brand has not yet officially spoken to its potential partners.

Source: Automotive News