(MENAFN) French automaker PSA revealed that it has recently finished buying rival brands Opel and Vauxhall, pushing the company to be Europe"s second-biggest carmaker ahead of German Volkswagen.
PSA revealed that it has approved deal in March to allocate around 1.3bn euros for Opel, a storied German firm dominated by US auto giant General Motors for decades, and its British unit Vauxhall.
The French company added that in the beginning the contract was set to be done by the end of the year.
According to the company, "Groupe PSA today announces the closing of the acquisition of GM subsidiaries Opel and Vauxhall."
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