GM announced in March that it would sell Opel and sister brand Vauxhall to PSA in a deal worth 2.2 billion euros
, photo: AP/Zacharie Scheurer
05 of July 2017 14:11:20
BRUSSELS – The European Union on Wednesday approved French automaker PSA's acquisition of Opel and British brand Vauxhall from General Motors.The EU's executive Commission said it has given unconditional approval to the deal. It said it "concluded that the transaction would raise no competition concerns in the relevant markets."After losing money in Europe for years, GM announced in March that it would sell Germany-based Opel and sister brand Vauxhall to PSA in a deal worth 2.2 billion euros ($2.5 billion).The acquisition will make PSA the No. 2 European automaker after Germany's Volkswagen.