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Mary Barra (2ndL), CEO of General Motors, Gary Cohn (2ndR), President of President of Goldman Sachs, and Doug McMillon (R), CEO of Walmart, listen while US President Donald Trump speaks before a policy and strategy forum with executives in the State Dining Room of the White House February 3, 2017 in Washington, DC.
President Donald Trump has spoken at length about lowering the tax burden on U.S. businesses. The House of Representatives Republicans have also proposed a reduction in U.S. statutory corporate tax which would likely lead to the introduction of a U.S. boarder tax adjustment, although plans are as yet unconfirmed.
The 2.2 billion euro ($2.3 billion) deal will increase PSA Group’s sales volumes by 40 percent and accelerate the firm’s market share to 16 percent, leapfrogging Renault and bringing it closer in line with Europe’s market leader Volkswagen.
The deal sees GM remain in “collaboration” with PSA via 670 million euro ($709 million) share warrants, Barra added, insisting that the companies could work together in Europe despite competing in other regions.
“We understand that there’ll be a point in time where that may indeed occur but we’re also seeing areas to collaborate.
“I think if you look at business now there’s many different businesses, even outside of this industry, where in some places you collaborate and some places you compete.”
