Opel might have a new owner by next week.
PSA Group could wrap-up a deal for General Motors' Opel division as early as next week, a new report finds.
Discussions between France's PSA and GM have been ongoing for the last few weeks. At last report the two sides were hammering out details about how to handle Opel's retirement fund, which is believed to be underfunded by about $9 billion. That issue still looms large, but both PSA and GM appear eager to finalize a deal.
According to Bloomberg, officials from PSA and GM are planning to carry on negotiations through the weekend. Insiders have reported that an announcement on the deal for PSA to acquire Opel could come as soon as Monday. However, sources have also cautions that the complexities of the deal could force unforeseen delays.
PSA has already scheduled a meeting with European labor officials for next week. Those in-the-know suggest that means PSA is optimistic about finalizing a deal for Opel but, again, PSA could cancel that meeting without much notice should things go south.
Opel has been a money loser for GM over the last few years, but PSA is convinced the brand could save it billion of dollars per year through joint development.