PSA agrees to buy Opel from GM, wins board approval -sources

by Dramelin 12:00 AM 0 comments

Tavares told his board that PSA would redevelop the core Opel lineup with its own technologies to achieve rapid savings, according to people with knowledge of the matter.
The French carmaker also expects savings of up to 2 billion euros ($2.
1 billion) from the tie-up, sources have said.
PSA boss Carlos Tavares said last week a full acquisition of Opel offered an "opportunity to create a European car champion" and quickly exceed 5 million annual vehicle sales.
Spokespeople for PSA and Opel declined to comment.
Sources close to the GM-PSA talks had said on Thursday they were progressing well after the carmakers narrowed differences on about $10 billion in Opel pension liabilities and other issues.