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PSA completes takeover of GM's European business - Opel and Vauxhall

French PSA Group completed a 2.2 billion euro ($2.6 billion) takeover of the General Motors Co. (GM) European business, which includes the brands Opel and Vauxhall.

After the purchase of Opel and Vauxhall the French company will become the second largest European automaker with a market share of 17%.

The expected synergistic effect is estimated at 1.7 billion euros by 2026. PSA expects to generate a 6 percent operating profit margin by 2026.

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