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PSA buys Opel from GM for $2.3 billion, sets first recovery goals

PSA buys Opel from GM for $2.3 billion, sets first recovery goals

Monday, March 6, 2017, 1:22 PM

PSA Group has agreed to buy Opel from General Motors in a deal valuing the business at 2.2 billion euros (USD 2.3 billion), creating a new regional car giant to challenge market leader Volkswagen. By acquiring Opel, the French group leapfrogs rival Renault to become Europe's second-ranked carmaker by sales, with a 16 percent market share to VW's 24 percent.
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