Moving faster than many expected, GM has completed the sale of its money-losing European operations to PSA Group, the French automaker’s chairman hailing “the birth of a true European champion today.” GM becomes a smaller company and PSA now has to figure out how to reverse 18 years of losses -- but ties between the companies will continue for years, reports TheDetroitBureau.com.

2021-02-01

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 GM will receive 1.32 billion euros for the Opel manufacturing business - 650 million euros in cash and 670 million in PSA share warrants. An additional 900 million euros will be paid by the Paris-based carmaker and BNP Paribas for Opel’s financing arm, to be operated jointly and consolidated by the French bank. General Motors and French automaker PSA Group on Tuesday announced the completion of the sale of Opel.

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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.

Aug 1, 2017. General Motors has officially completed the sale of its Opel division to France's PSA Group, effectively shedding GM's European division. 2017-03-06 · 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.

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

General Motors announces the sale of Opel and Vauxhall divisions to Paris based PSA Groupe, Host Sam Haymart talks on the details of the sale and what it mea 2019-05-17 2017-03-06 2017-06-09 General Motors and PSA Group have announced the close of the sale of Opel/Vauxhall to the French automaker. The finalization of the deal means PSA Group is now the second largest European automaker, second only to Volkswagen AG. In March GM announced its intent to sell its struggling European brands. GM says the move will allow the company to more sharply focus its efforts on higher-return Moving faster than many expected, GM has completed the sale of its money-losing European operations to PSA Group, the French automaker’s chairman hailing “the birth of a true European champion today.” GM becomes a smaller company and PSA now has to figure out how to reverse 18 years of losses -- but ties between the companies will continue for years, reports TheDetroitBureau.com.

In accordance with the sale, which was first announced in March, PSA paid $1.53 billion for the Opel and Vauxhall brands and $1.06 billion for the European division of the GM Financial lending unit.

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. 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.
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Following regulatory review, company executives at GM and PSA expect the deal to close by year’s end, allowing GM to exit the European market following GM could complete the sale of Opel, its European arm, to the PSA Group as early as July 31. When PSA Group agreed to buy Opel from General Motors last March, with the value of the transaction set 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). General Motors announces the sale of Opel and Vauxhall divisions to Paris based PSA Groupe, Host Sam Haymart talks on the details of the sale and what it mea 2019-05-17 2017-03-06 2017-06-09 General Motors and PSA Group have announced the close of the sale of Opel/Vauxhall to the French automaker.

18 juin 2019 Alors que General Motors avait depuis le début du XXIe siècle beaucoup Le patron de PSA, Carlos Tavares en intégrant les marques Opel et  6 mars 2017 C'est fait : General Motors a vendu ses marques et son activité à Peugeot PSA et BNP Paribas. La note s'élève à 2,3 milliards de dollars pour  15 févr. 2017 L'éclair allemand, filiale de General Motors depuis 1929, perd non seulement de l'argent depuis quinze ans en Europe (15 milliards sur la  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 By acquiring Opel, PSA leapfrogs French rival Renault (RENA.PA) to become Europe's second-ranked carmaker by sales, with a 16 percent  14 Feb 2017 Opel's works council and labor union IG Metall said they were surprised by “ rumors about a possible sale of Opel/Vauxhall to PSA,” describing  14 Feb 2017 America's General Motors (GM) is in talks with France's PSA Group to sell GM's European unit Opel, reports Reuters.
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6 Mar 2017 General Motors Sells Opel, Vauxhall to PSA for $2.3 Billion. The sale of Opel seals General Motors' exit from Europe. General Motors has 

Its acquisition of Opel means PSA Group is second only to the Volkswagen Group for size among 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. The deal will total $2.3 billion (2.2 billion euros) and consist of GM's sales GM will receive 1.32 billion euros for the Opel manufacturing business - 650 million euros in cash and 670 million in PSA share warrants. An additional 900 million euros will be paid by the Paris-based carmaker and BNP Paribas for Opel’s financing arm, to be operated jointly and consolidated by the French bank.