French carmaker Peugeot has been close to a deal that will see it buy the British company, Vauxhall. The deal is worth around 3 billion euros for Vauxhall’s owner PSA Group.
It was reported that this acquisition will push the carmaker up from 12th to 7th in Europe in terms of market share. This deal would also make the company one of the top European manufacturers of diesel engines for passenger cars.
Additionally, Peugeot would acquire Vauxhall’s Opel subsidiary which makes them the second largest manufacturer of diesel engines in Europe.
However, there’s still a possibility that this deal will not push through due to Brexit. Since Vauxhall is very dependent on exports to Europe, when Britain leaves the European Union, it may be unclear for them what trading relations they will have with their closest market in the EU.
The PSA Group declined to comment about the deal.
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