The Proposed Joint Acquisition of Financial Activities of Opel, Vauxhall by Groupe PSA BNP, Paribas Is Approved by European Antitrust Authorities

PARIS, Aug. 9 -- BNP Paribas issued the following news release:

Today, the European Commission approved the proposed acquisition by Groupe PSA and BNP Paribas of the captive companies of Opel/Vauxhall.

This proposed deal to jointly acquire the captive financing companies of Opel/Vauxhall and to build a strategic long-term partnership around the Opel and Vauxhall brands was announced on 6 March 2017, as part of the acquisition of Opel/Vauxhall by Groupe PSA. .

These activities will benefit from the combined expertise of Banque PSA Finance and BNP Paribas Personal Finance in automotive financing, to better serve dealers and Opel and Vauxhall customers and support the development of the two brands.

This operation is also subject to the approval of the European banking authorities, whose decision is expected in the second half of the year.

"An important milestone was reached today for the teams already mobilized on this project for several months", explains Laurent David, Chief Executive Officer of BNP Paribas Personal Finance. "Teams are now concentrating on fulfilling the remaining conditions necessary to close this deal, which is expected to be achieved before the end of the year", indicated, Remy Bayle, Chief Executive Officer of Banque PSA Finance.

About Groupe PSA

The Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all client expectations. The Group has five car brands, Peugeot, Citroen, DS, Opel and Vauxhall, as well as a wide array of mobility and smart services under its Free2Move brand, aiming to become a great car maker and the preferred mobility provider. It is an early innovator in the field of autonomous and connected cars. It is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia. Find out more at groupe-psa.com/en.

Media library: https://medialibrary.groupe-psa.com/ / Twitter: @GroupePSA

About BNP Paribas Personal Finance

BNP Paribas Personal Finance is the leader in France and in Europe for personal loans via its activities in consumer credit and mortgage lending. A 100% subsidiary of the BNP Paribas Group, BNP Paribas Personal Finance has nearly 20,000 employees and operates in about 30 countries. Under brands including Cetelem, Findomestic, Cofinoga and AlphaCredit, the company offers a full range of personal credit products at points of sale and car dealerships and directly to consumers through its customer relations centres and Internet. BNP Paribas Personal Finance has added an insurance and savings offer for its clients in Bulgaria, France, Germany, and Italy. BNP Paribas Personal Finance has developed an active partnership strategy with retailers, manufacturers and automotive retailers, web merchants and financial institutions (banks and insurance companies), based on its experience with marketing credit offers and integrated services tailored to partners' business and commercial objectives. It is also a leading player in the field of responsible lending and financial education.