Peugeot maker psa finalizes takeover gms opel vauxhall

A significant development in the automotive industry!

Yes, you're correct. PSA Group, the French multinational company that owns Peugeot, Citroën, and DS Automobiles, has finalized its takeover of General Motors' (GM) Opel and Vauxhall brands.

On August 2, 2017, PSA Group announced that it had completed the acquisition of Opel and Vauxhall from General Motors for €1.3 billion (approximately $1.5 billion USD). The deal was first announced in March 2017 and was subject to regulatory approvals.

As part of the deal, PSA Group acquired Opel's entire share capital, including its subsidiaries, such as Vauxhall in the UK, and its global operations. The acquisition marked a significant milestone for PSA Group, which aimed to expand its presence in Europe and beyond.

The takeover has allowed PSA Group to strengthen its position in the European market, where Opel and Vauxhall have a significant presence. The combined entity has become one of the largest automakers in Europe, with a portfolio of brands that includes Peugeot, Citroën, DS Automobiles, Opel, and Vauxhall.

The acquisition has also enabled PSA Group to leverage Opel's expertise in engineering and manufacturing, as well as its global distribution network. In return, Opel and Vauxhall have gained access to PSA Group's resources, including its research and development capabilities, as well as its global sales and marketing network.

The takeover has also led to significant changes in the management structure of the combined entity, with Opel's CEO, Karl-Thomas Neumann, stepping down and being replaced by PSA Group's CEO, Carlos Tavares.