France's PSA completes Opel, Vauxhall takeover

French automaker PSA said Tuesday it had completed, ahead of schedule, the takeover of rival brands Opel and Vauxhall which makes the group Europe's second-biggest carmaker after Volkswagen. PSA - which owns the Peugeot, Citroen and DS brands - agreed in early March to pay some 1.3 billion euros ($1.46 billion) for Opel, a storied German firm owned by US auto giant General Motors for decades, as well its British subsidiary Vauxhall.
Initially, the deal was to close by the end of the year. "Groupe PSA today announces the closing of the acquisition of GM subsidiaries Opel and Vauxhall," it said in a statement.