{"id":649715,"date":"2017-03-07T04:38:03","date_gmt":"2017-03-07T04:38:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/07\/psa-group-finalizes-agreement-to-buy-gms-european-brands-including-opel-vauxhall\/"},"modified":"2017-03-07T04:38:03","modified_gmt":"2017-03-07T04:38:03","slug":"psa-group-finalizes-agreement-to-buy-gms-european-brands-including-opel-vauxhall","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/07\/psa-group-finalizes-agreement-to-buy-gms-european-brands-including-opel-vauxhall\/","title":{"rendered":"PSA Group finalizes agreement to buy GM\u2019s European brands including Opel\/Vauxhall"},"content":{"rendered":"

Peugeot-Citroen has reached an agreement with General Motors to buy its European unit, including the Vauxhall and Opel operations<\/strong>, BBC news reports<\/a>. PSA Group, the owner of Peugeot-Citroen, would, after the agreement, become Europe's second largest carmaker, behind Volkswagen but overtaking Renault-Nissan. The transaction is valued at EUR 2.2 bn, according to Bloomberg<\/a>, and PSA will pay EUR 1.3 bn for \u201cRuesselsheim, Germany-based Opel and its U.K. nameplate Vauxhall, with the rest for the financing unit, which is being evenly split with BNP Paribas SA,\u201d adding that \u201cthe combination of the two automakers is expected to generate annual savings of EUR 1.7 bn euros by 2026, through combining development, sharing investment in factories and purchasing. Implementing the savings measures will cost about EUR 1.6 bn.\u201d<\/p>\n

The move will have no bearing on Mansour Group\u2019s status as distributor for Opel in Egypt<\/strong>, a top General Motors Egypt official tells Al Mal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Peugeot-Citroen has reached an agreement with General Motors to buy its European unit, including the Vauxhall and Opel operations, BBC news reports. PSA Group, the owner of Peugeot-Citroen, would, after the agreement, become Europe's second largest carmaker, behind Volkswagen but overtaking Renault-Nissan. The transaction is valued at EUR 2.2 bn, according to Bloomberg, and PSA […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-649715","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"eeeda47a-66b3-420e-bcab-e928c98e97eb","order":"0","is_powered_by":true,"section_story_id":"6e2673fa-e2b4-4b7c-88a8-6e139d5cd4f8","story_type":"1","photo_url":"","photo_position":"above","related_issue":[649701],"teaser":"","voice_url":""},"yoast_head":"\nPSA Group finalizes agreement to buy GM\u2019s European brands including Opel\/Vauxhall - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/07\/psa-group-finalizes-agreement-to-buy-gms-european-brands-including-opel-vauxhall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PSA Group finalizes agreement to buy GM\u2019s European brands including Opel\/Vauxhall\" \/>\n<meta property=\"og:description\" content=\"Peugeot-Citroen has reached an agreement with General Motors to buy its European unit, including the Vauxhall and Opel operations, BBC news reports. PSA Group, the owner of Peugeot-Citroen, would, after the agreement, become Europe's second largest carmaker, behind Volkswagen but overtaking Renault-Nissan. 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The plaintiffs are\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637789,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/26\/mansour-group-led-consortium-wins-distribution-rights-for-peugeot-cars\/","url_meta":{"origin":649715,"position":2},"title":"Mansour Group-led consortium wins distribution rights for Peugeot cars","author":"enterpriseam admin","date":"26 November 2017","format":false,"excerpt":"Also from the land of cars this morning: Mansour Group-led consortium wins distribution rights for Peugeot cars: The Peugeot-Citroen arm of Groupe PSA has reportedly selected a consortium of Mansour Group and Dubai-based Scope Investment to be its licensed distributor of Peugeot vehicles in Egypt, Al Borsa reports. The decision\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605129,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/23\/peugeot-citroen-in-court-in-cdcm-case-today\/","url_meta":{"origin":649715,"position":3},"title":"Peugeot Citroen in court in CDCM case today","author":"enterpriseam admin","date":"23 December 2018","format":false,"excerpt":"COURT WATCH- Court will hear EUR 150 lawsuit against Peugeot Citroen today: A Cairo court will begin hearing today a lawsuit brought by Arabian Investments, Development and Financial Investment Holding Co. (AIND) subsidiary Cairo for Development and Cars Manufacturing (CDCM) against Peugeot Citroen. 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