Jul 5, 2017

Vauxhall takeover by PSA given go-ahead

The European Commission has given the go-ahead to the takeover of Vauxhall and Opel brands by France's PSA Group, maker of Peugeot and Citroen cars. European Commission said it had "Unconditionally approved" Peugeot's acquisition of General Motors European division. Vauxhall employs 4,500 people in the UK at plants in Ellesmere Port and Luton. General Motors agreed the sale of its European division, on which it has not made a profit since 1999, to Peugeot in March. The deal will mean that Peugeot becomes Europe's second-biggest carmaker, after Volkswagen.

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