PSA Group Wins EU Approval of Opel, Vauxhall Acquisition
PSA Group has received regulatory approval from the European Union regarding its acquisition of Opel and Vauxhall from General Motors.
The EU approved of the French automaker’s 2.2 billion euro acquisition of GM’s European operations, which was agreed upon by the two organizations in early March but has recently secured unconditional EU antitrust approval of the purchase, according to the Associated Press.
The acquisition of Opel and Vauxhall brands will include all of the brands’ operations, six assembly and five component manufacturing facilities, one engineering center in Rüsselsheim, Deutschland, and approximately 40,000 employees.
Both organizations are now concentrating on finalizing other conditions needed to close the deal, which is expected to be completed in the second half of the year, according to PSA Group.