General Motors is in the news again ,this time money is changing hands.
It has sold its European operations in a deal worth $2.3 billion.
GM has let go off its Opel and Vauxhall brands to French automaker PSA Group. The deal includes the sale of GM Financial’s European division, which PSA and BNP Paribas are acquiring together.
This deal now makes PSA the second largest automaker in Europe just behind Volkswagen.They also own Peugeot, Citroen, and DS brands.
The deal had to be made because business has not being booming in Europe as expected for GM since 1999.It is believed that PSA would take things to the next level since they have had great success already with their existing brands.
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