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Electronics Production |
GM sells Opel/Vauxhall to PSA Group
General Motors will sell its Opel/Vauxhall subsidiary and GM Financial’s European operations will to the PSA Group in a transaction valued at EUR 2.2 billion.
According to the companies the transaction will allow substantial economies of scale and synergies in purchasing, manufacturing and R&D.
The total value of the transaction amounts to EUR 2.2 billion, EUR 1.3 billion for Opel/Vauxhall automotive operations and EUR 1.3 billion for 100% of GM Financial’s European operations.
The transaction includes all of Opel/Vauxhall’s automotive operations, comprising Opel and Vauxhall brands, six assembly and five component-manufacturing facilities, one engineering center (Rüsselsheim) and approximately 40’000 employees. However, GM will retain the engineering center in Torino, Italy.
