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PSA Peugeot-Citroen buys Opel and Vauxhall for € 2,2 billion

French carmaker PSA (the maker of Peugeot and Citroen cars) announced the purchase of the European division of the American automobile corporation General Motors (GM), which includes the German Opel and British Vauxhall. The € 2,2 billion deal was announced today in Paris by the representatives of GM and PSA. Thus, in Europe will appear the second largest carmaker after Volkswagen.

The deal includes not only American concern reward, but also payment of Opel's debt. The two sides also discussed the implementation of the German cars and procedure for payment of pensions to former employees of the automaker.

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