EU Approves Carmaker Opel Takeover By France's Peugeot PSA: Statement

The European Union's competition authority has approved the takeover of Germany's Opel car brand by Peugeot PSA, which belongs to Germany. Also, this will make Peugeot PSA the second largest car manufacturer in Europe after Volkswagen.

By Agence-France Presse

1 mins read

Published on July 6, 2017

Highlights

There are no financial details available about the deal at present
The EU's competition comission approved the takeover
With this, Peugeot PSA will become the 2nd largest carmaker in Europe

The EU's competition authority on Wednesday approved the blockbuster takeover of Germany's Opel by France's Peugeot PSA that will create Europe's second-largest carmaker after Volkswagen. "The European Commission has unconditionally approved the acquisition of Opel by Peugeot, under the EU Merger Regulation," the Commission, the EU's executive arm, said in a statement. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

# EU # OPEL # Peugeot PSA # Takeover # Auto Industry

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