French carmaker PSA announced the acquisition of General Motors' (GM) European subsidiary, which includes the Opel and Vauxhall brands, for 1.3 billion euros ($1.38 billion).
Peugeot maker PSA Group has achieved record profits of €1.7 billion in the first half of the year, after revenues jumped 40 percent. The recently acquired Opel-Vauxhall business has returned to the black.
The French company that owns Peugeot and Citroen has struck a deal to buy General Motors' (GM) European unit, including the Opel and Vauxhall brands. PSA is on its way to becoming Europe's second-largest carmaker.
French carmaker PSA has reported a strong sales increase for the first three months of the year after taking over struggling German auto manufacturer Opel. Employees at Opel's sites in Germany fear layoffs.
German carmaker Opel is still losing money six months on from its takeover by France's PSA Group. The new owner's first priority is to return Open to profitability. How is the effort progressing?
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