PSA Finalises Purchase Of Opel/Vauxhall From General Motors

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PSA Finalises Purchase Of Opel/Vauxhall From General Motors

The goal is to generate a positive operational free cash flow by 2020 as well as an operating margin of 2 percent by 2020 and 6 percent by 2026

By car&bike Team

Published on August 1, 2017

Highlights

PSA Group clinched the Opel and Vauxhall brands from General Motors on Tuesday, helping the French carmaker to leapfrog French rival Renault to become Europe's second-ranked carmaker by sales. "We are witnessing the birth of a true European champion today," PSA Chairman Carlos Tavares said in a statement. "We will assist Opel and Vauxhall's return to profitability and aim to set new industry benchmarks together." Also Read: General Motors To Stop Selling Cars In India PSA revealed plans to buy Opel in March. The combined entity will unlock economies of scale and synergies in purchasing, manufacturing and research and development estimated at 1.7 billion euros ($2 billion), the companies said. The goal is to generate a positive operational free cash flow by 2020 as well as an operating margin of 2 percent by 2020 and 6 percent by 2026, Opel said. © Thomson Reuters 2017 (This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)