Deal with US owners General Motors makes PSA Group second-biggest carmaker in Europe behind VW but political battles loom to save jobs
The French company behind Peugeot and Citroën has agreed to buy General Motors’ lossmaking European arm Opel, including Vauxhall, for €2.2bn (£1.9bn).
The acquisition of Opel/Vauxhall, which generated revenues of €17.7bn last year, will transform PSA Group into the second-biggest carmaker in Europe, after Volkswagen.
Related: Vauxhall job fears rise as Peugeot boss mentions 'speedy' savings
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