PSA Group and BNP Paribas announce a long-term strategic partnership in automotive finance

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Banque PSA Finance and BNP Paribas Personal Finance will each acquire 50% of the share capital of Opel / Vauxhall’s financing activities.

The operations will benefit from combined Banque PSA Finance’s and BNP Paribas Personal Finance’s expertise in automotive financing to better serve in 11 european countries Opel and Vauxhall’s 1800 dealers and customers and support Opel and Vauxhall development.

The transaction is expected to close in the fourth quarter of 2017 and is subject to customary anti-trust and other regulatory approvals.

Remy Bayle, CEO of Banque PSA Finance and Laurent David, CEO of BNP Paribas Personal Finance, together declare :
« We are very pleased with this new venture and warmly welcome the employees of Opel / Vauxhall’s financing activities within our partnership ».

Link to the press release.