Peugeot, Europe’s 2nd largest automaker

After two decades of non-profitable business in Europe, General Motors (GM) will sell Opel and Vauxhall brands to French competitor Peugeot SA (UG), a deal worth EUR 1.3 billion. GM’s financial operations will be jointly acquired by Peugeot and BNP Paribas SA for about EUR 900 million, turning Peugeot SA into Europe’s second largest automaker totaling 17% of the European automotive market.