Peugeot and Citroen bought Opel for 2.6 billion dollars

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PSA is a French company which owns Peuget and Citroen. The company bought Opel, a German car manufacturer and its British subsidiary called Vauxhall. The price paid to General Motors was 2.6 billion dollars.

After this purchase, PSA became the second largest car manufacturer in Europe, just after Volkswagen. The French company has a market share of 16 percent in Europe, while Volkswagen has 24 percent.

General Motors owned Opel for almost 90 years.

 

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