Absorbs Peugeot Citroen Opel

The European Commission approved the takeover of Opel with PSA.

The European Commission has approved the takeover of German carmaker Opel, the French automobile concern Peugeot Citroen (PSA).

On Wednesday, July 5, said in Brussels.

Antitrust regulators, the EU agreed to the deal without conditions, noting that it does not cause the European Commission’s concerns and will not lead to “unfair competition on the relevant markets.”

Full control over Opel will allow the PSA to become the third of the second largest European avtostroiteley – after the German Volkswagen, and to circumvent its French rival Renault. The deal ends 88-year period for which Opel was owned by the American Corporation General Motors (GM). Point in the absorption process can be supplied at the end of July.

PSA plans to purchase for €1.3 billion from GM its subsidiaries is a German Opel and British Vauxhall – became known in early March. American giant fully surrenders to the French competitor, recently emerged from a severe crisis, their assets in Europe. And Opel, lately carrying significant losses, and PSA produced mainly medium cars and compact classes.

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