According to the European version of "Automotive News" reported on July 5, Peugeot Citroen Group (PSA) announced that its acquisition of GM's German Opel has been approved by the EU antitrust agency, which will make PSA become the second in Europe following the public Big car manufacturer. C45 1045 S45C carbon steel bar, 1018 carbon steel bar,1020 S20C C20 C22 CK22 S20Cr/Ti Carbon Steel Round Bar 1045 steel round bar,S45C steel round bar,C45 steel round bar,A36 steel round bar,1020 steel round bar SHANDONG LE REN SPECIAL STEEL CO., LTD. , https://www.sdhighstrengthsteelbolts.com
The European Commission said the move would not create competition. PSA currently has three major brands, Peugeot, Citroen and DS. It promises to achieve a 2% operating margin for Opel and its UK subsidiary Vauxhall within three years, reaching 6% by 2026 and saving 1.7 billion euros.
The transaction was reached on March 6th with a valuation of 2.2 billion euros ($2.5 billion), including PSA and BNP Paribas' acquisition of GM's financial operations in Europe. The transaction was conducted under the supervision of an EU antitrust agency official.