France's PSA Group said on Monday it agreed to buy Opel and its British Vauxhall brand from General Motors in a deal valuing the business at 2.2 billion euros ($2.3 billion).

Opel's global export push could mean production of its cars in PSA's plants in China, Russia and Iran, and even sales in the U.S., the home market of its former owner General Motors.. As part of

Dan Ammann, president of General Motors, says that the sale of Opel to PSA will enable the company to put its resources toward projects that have higher-return opportunities and new vehicle tech. The automaker giant has just effectively ceased its European operations, selling Opel, Vauxhall, and the European division of GM Financial to the PSA Group for $2.3 billion. General Motors bought At the same time, GM said it will have to take a primarily non-cash special charge of $4 billion to $4.5 billion in connection with the sale. GM said it will pay PSA 3 billion euros ($3.18 billion) GM said it will pay PSA 3 billion euros ($3.18 billion) to settle transferred pension obligations. Ammann said the agreement limits the sale of Opel and Vauxhall vehicles to the markets where they PSA Group said Tuesday that Germany's Opel and its UK sister brand Vauxhall generated an operating profit of €502 million ($587 million) in the first six months of the year. It's a stunning General Motors is selling Opel, its European division, to the PSA Group. The automakers announced the sale on Monday.

Gm opel sale to psa

PSA and GM have announced the completion of the planned sale of Opel Automobile GmbH with its brands Opel and Vauxhall by General Motors to Groupe PSA. PSA has also announced senior management Opel's global export push could mean production of its cars in PSA's plants in China, Russia and Iran, and even sales in the U.S., the home market of its former owner General Motors.. As part of The sale of General Motors' European Opel unit to PSA Group is looking more likely and could be announced as early as Monday, according to a flurry of news reports. GM CEO cautious on Opel sale 1 1 Aug 2017 DETROIT — General Motors Co. (NYSE:GM) and Groupe PSA (Paris:UG) today announced the close of the sale of GM's Opel/Vauxhall 24 Aug 2018 Opel Vauxhall lost about $20 billion – yes that's billion not million – between the year 2000 and last year when General Motors sold it to the 6 Mar 2017 The automaker giant has just effectively ceased its European operations, selling Opel, Vauxhall, and the European division of GM Financial to the 6 Mar 2017 At a time when European unity is under threat, the sale of Opel to PSA could strain relations among Britain, France and Germany as they try to 6 Mar 2017 The automakers announced the sale on Monday. The deal will total $2.3 billion ( 2.2 billion euros) and consist of GM's sales of its unit PSA Peugeot Citroen announced on the eve of the Geneva show earlier this year that it has acquired GM's European arm Opel/Vauxhall in a deal worth £1.9 25 Jun 2019 Meanwhile, GM Holden's Commodore, which is sold in Australia and New Zealand, is also sourced from Rüesselsheim. Earlier in 2019, images 1 Aug 2017 GM to sell Opel, Vauxhall to PSA Groupe for $2.2 billion · GM, Peugeot to announce Opel deal on Monday · Mary Barra shapes a new GM: Fast, 2 Aug 2017 Taking on the GM brands means PSA's volume will be 4.5m at the current sales rate. In a press release confirming the purchase, PSA Group boss 6 Mar 2017 General Motors Sells Opel, Vauxhall to PSA for $2.3 Billion.

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At the same time, GM said it will have to take a primarily non-cash special charge of $4 billion to $4.5 billion in connection with the sale. GM said it will pay PSA 3 billion euros ($3.18 billion GM Sells Opel and Vauxhall to PSA For $2.3 Billion Peugeot and Citroen's parent group acquires GM's British and German brands to become Europe's second-largest automaker. By Máté Petrány Stefan Ogbac Words.

Following its bankruptcy late last decade, GM came close to selling Opel, which it has owned since 1931.Instead, the automaker in 2012 started collaborating with PSA on a number of projects and at

2017-03-06 · What: GM is selling Opel and Vauxhall to PSA Group in a $2.3 billion deal. The deal also includes the sale of GM's European finance operations to a 50-50 joint venture of PSA and banking giant BNP GM will retain the engineering center in Torino, Italy. The move establishes PSA-Opel as the second largest manufacturer in Europe. PSA sold 1.4 million units in 2014, out of which 541,000 were Citroën cars and 860,911 were Peugeot vehicles.

During the negotiations, GM reportedly concerned about Following its bankruptcy late last decade, GM came close to selling Opel, which it has owned since 1931.Instead, the automaker in 2012 started collaborating with PSA on a number of projects and at 2017-08-01 · General Motors and French automaker PSA Group on Tuesday announced the completion of the sale of Opel. Its acquisition of Opel means PSA Group is second only to the Volkswagen Group for size among European automakers. Combined deliveries for PSA and Opel totaled 4.3 million vehicles in 2016, or about 17 percent of the market.
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2021-02-01 · However, Opel/Vauxhall fared worst among PSA brands in 2020, with a 35% drop in sales compared with 2019, according to PSA, which noted a slight uptick in market share in the fourth quarter. PSA and GM have announced the completion of the planned sale of Opel Automobile GmbH with its brands Opel and Vauxhall by General Motors to Groupe PSA. PSA has also announced senior management Opel's global export push could mean production of its cars in PSA's plants in China, Russia and Iran, and even sales in the U.S., the home market of its former owner General Motors..

GM wants to stop burning money in Europe. A deal between started to grow.
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PSA CEO Carlos Tavares is looking to find €1.7 billion in synergies between PSA and Opel by 2026 to bring Opel sustainably into the black and make the deal work. To sell its European operations, GM has created the new company Opel Automobile GmbH, which will be sold to PSA.

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The automaker giant has just effectively ceased its European operations, selling Opel, Vauxhall, and the European division of GM Financial to the PSA Group for $2.3 billion. General Motors bought

5 Dec 2017 Reuters is reporting that PSA Group now wants GM to refund nearly half, or about $700 million of the $1.353 billion it paid to the U.S. 1 Mar 2018 Without Opel-Vauxhall, PSA's margin would have been 7.1 percent, the company said. but Opel's sales figures year-on-year showed almost no growth, a division of General Motors, because the US parent company f 7 Mar 2021 Once it owns GM's Opel and Vauxhall operations, PSA Group will be the second largest manufacturer in Europe, and the company has stated 6 Mar 2017 This morning, General Motors confirmed that it has sold both its Opel/Vauxhall subsidiary and its European financial arm to Paris-based PSA for 6 Mar 2017 General Motors has agreed to sell its European business to PSA, which will become Europe's second-biggest car maker in terms of sales. 26 Feb 2019 PSA announced that Opel and Vauxhall were profitable in 2018 after years of losses under GM. Also, the Peugeot brand will be sold in the The sale could impact the North American market in a few ways. Buick. GM's semi-luxury brand has gotten most of its car designs in recent years from Opel. The 6 Mar 2017 Groupe PSA and General Motors (GM) have confirmed today (6 March) that This acquisition by PSA will initially drastically increase its sales 6 Mar 2017 Peugeot struck a deal to buy General Motors' unprofitable European operations, known as Groupe PSA SA acquires the storied Opel and Vauxhall brands, Opel's sale leaves GM with nearly no presence in the world 24 Apr 2018 French carmarker PSA Peugeot Citroen said Tuesday its acquisition of the Opel and Vauxhall brands last year helped drive sales up more than 6 Mar 2017 GM will retain the rights to sell its other brands in Europe, although the automaker pulled Chevrolet out of the continent a few years ago and now 16 Nov 2017 After losing around US$16 billion in Europe, GM decided to sell Opel/Vauxhall to PSA. The French company had been transformed from near 6 Mar 2017 will acquire GM's Opel and Vauxhall subsidiaries, together with GM In FY2016, the Group has indeed increased nominal sales for the third 6 Mar 2017 Car manufacturers General Motors and the PSA Group, which has the Peugeot, Citroen and the DS brands under its umbrella have agreed to a 3 Jun 2017 GM also receives options to obtain PSA shares in future. The sale is the final act of a decades-long estrangement between GM and Opel.

This morning, General Motors confirmed that it has sold both its Opel/Vauxhall subsidiary and its European financial arm to Paris-based PSA for a total of €2.2 billion ($2.3 billion).

Ammann said the agreement limits the sale of Opel and Vauxhall vehicles to the markets where they PSA Group said Tuesday that Germany's Opel and its UK sister brand Vauxhall generated an operating profit of €502 million ($587 million) in the first six months of the year. It's a stunning General Motors is selling Opel, its European division, to the PSA Group. The automakers announced the sale on Monday. The deal will total $2.3 billion (2.2 billion euros) and consist of GM's sales General Motors and French automaker PSA Group on Tuesday announced the completion of the sale of Opel. Its acquisition of Opel means PSA Group is second only to the Volkswagen Group for size among GM closes sale of Opel/Vauxhall to Groupe PSA PR Newswire DETROIT, Aug. 1, 2017 DETROIT, Aug. 1, 2017 /PRNewswire/ -- General Motors Co. (NYSE: GM) and Groupe PSA (Paris: UG) today announced the GM to sell Opel, Vauxhall to PSA Groupe for $2.2 billion GM's decision to exit Europe definitively sends GM into new direction as the automaker sets its sights more squarely on North America, Asia General Motors is selling Opel, its European division, to the PSA Group.

CNNMoney (London) First published July 24 2017-03-05 · GM wants to protect its patents, but it will take several years to replace Opel's current model portfolio with PSA-developed successors. During the negotiations, GM reportedly concerned about Following its bankruptcy late last decade, GM came close to selling Opel, which it has owned since 1931.Instead, the automaker in 2012 started collaborating with PSA on a number of projects and at 2017-08-01 · General Motors and French automaker PSA Group on Tuesday announced the completion of the sale of Opel.