Opel is suffering losses since 1999.
French PSA Group buys European unit of General Motors – Opel – for 2.2 billion euros.
The Peugeot thanks to the deal will increase its share on the European market by 6 percentage points to 16 percent, ahead of Renault SA and taking in this market in second place after Volkswagen AG (24%).
Opel, according to the latest figures, suffering losses since 1999.
CEO PSA Carlos Tavares plans to revive unprofitable brands Opel and Vauxhall due to the restructuring operations, such as the one that was made for business recovery Peugeot and Citroen.
Note that the annual sales of the Opel and Vauxhall in the region is about 1.2 million cars.
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