Acuerdo global entre General Motors y PSA Peugeot Citroën

por Javier Moltó | 29 Feb 2012 | Teletransporte | 12 Comentarios

(Nota de prensa conjunta enviada por GM y PSA Peugeot – Citroën)

– PSA Peugeot Citroën prevé realizar una ampliación de capital por valor de 1000 millones de euros.

– GM prevé adquirir, posteriormente a la ampliación de capital, un 7% de las acciones de PSA. Con esta adquisición se convertiría en el segundo accionista de la sociedad, por detrás del grupo familiar de Peugeot.

– La alianza prevé aprovechar el acuerdo para crear una sociedad conjunta de compras de componentes que suministre a las dos compañías, para compartir plataformas, y para estudiar futuras estrategias de colaboración en otros campos como logística y transporte.

– el primer vehículo con plataforma conjunta podría aparecer en el mercado en 2016.

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General Motors and PSA Peugeot Citroën today announced the creation of a

long-term and broad-scale global strategic alliance that will leverage the combined strengths

and capabilities of the two companies, contribute to the profitability of both partners and strongly

improves their competitiveness in Europe.

The alliance is structured around two main pillars: the sharing of vehicle platforms, components

and modules; and the creation of a global purchasing joint venture for the sourcing of

commodities, components and other goods and services from suppliers, with combined annual

purchasing volumes of approximately $125 billion. Each company will continue to market and

sell its vehicles independently and on a competitive basis.

Beyond these pillars, the alliance creates a flexible foundation that allows the companies to

pursue other areas of cooperation.

In connection with the alliance, PSA Peugeot Citroën is expected to raise approximately €1

billion through a capital increase with preferential subscription rights for shareholders of PSA

Peugeot Citroën, underwritten by a syndicate of banks and including an investment from the

Peugeot Family Group, as a sign of their confidence in the success of the alliance. As part of

the agreement, which includes no specific provision regarding the governance of PSA Peugeot

Citroën, GM plans to acquire a 7 percent equity stake in PSA Peugeot Citroën, making it the

second largest shareholder behind the Peugeot Family Group.

“This partnership brings tremendous opportunity for our two companies,” said Dan Akerson, GM

chairman and CEO. “The alliance synergies in addition to our independent plans, position GM

for long-term sustainable profitability in Europe.”

Philippe Varin, chairman of the managing board of PSA Peugeot Citroën, declared, “This

alliance is a tremendously exciting moment for both groups and this partnership is rich in its

development potential. With the strong support of our historical shareholder and the arrival of

a new and prestigious shareholder, the whole group is mobilized to reap the full benefit of this

agreement.”

Under the terms of the agreement, GM and PSA Peugeot Citroën will share selected platforms,

modules and components on a worldwide basis, in order to achieve cost savings, gain

efficiencies, leverage volumes and advanced technologies, and reduce emissions. Sharing

of platforms not only enables global applications, it also permits both companies to execute

Europe-specific programs with scale and in a cost effective manner.

Initially, GM and PSA Peugeot Citroën intend to focus on small and midsize passenger cars,

MPVs and crossovers. The companies will also consider developing a new common platform for

low emission vehicles. The first vehicle on a common platform is expected to launch by 2016.

This alliance enhances but does not replace either company’s ongoing independent efforts to

return their European operations to sustainable profitability.

The purchasing cooperation defined in the agreement allows the companies to act as one global

purchasing organization when it comes to sourcing commodities, components and services from

suppliers, taking full advantage of the joint expertise, volume, platforms and standardized parts.

Combining GM’s robust global processes and organizational structure with best practices from

PSA Peugeot Citroën, will bring significant value and efficiencies to the purchasing operations at

both companies.

Additionally, the alliance is exploring areas for further cooperation, such as integrated logistics

and transportation. To this end, GM intends to establish a strategic, commercial cooperation

with Gefco, an integrated logistics services company and subsidiary of PSA Peugeot Citroën,

whereby Gefco would provide logistics services to GM in Europe and Russia.

The total synergies expected from the alliance are estimated at approximately $2 billion USD

annually within about five years. The synergies will largely coincide with new vehicle programs,

with limited benefit expected in the first two years. It is expected the synergies will be shared

about evenly between the two companies.

The alliance will be supervised by a global steering committee that includes an equal number of

senior leader representatives from both companies.

Its implementation is subject to requisite regulatory approvals in certain jurisdictions as well as

notification to the appropriate workers councils.