PSA agrees to buy GM's Opel in deal valuing the business at €2.2 bn March 6, 2017 - 11:25 AMT PanARMENIAN.Net - PSA Group has agreed to buy European rival Opel from General Motors in a deal valuing the business at 2.2 billion euros ($2.3 billion), the companies said on Monday, March 6, creating a new regional car giant to challenge market leader Volkswagen, Reuters reports. The maker of Peugeot and Citroen cars pledged to achieve 1.7 billion euros in cost savings from the acquisition by 2026 and lift the Opel business and its UK Vauxhall brand to a 6 percent operating margin in the same period. The tie-up was approved on Friday by the PSA supervisory board, on which the French government, Peugeot family and China's Dongfeng (0489.HK) are represented as shareholders, one source with knowledge of the matter said.  Top stories Azerbaijani authorities report that they have already resettled 3,000 people in the Nagorno-Karabakh town of Stepanakert. On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive.   Partner news |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesArmenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats.Balance of attached cards in the Idram&IDBank app From now on, users will be able to view the online balances of cards issued by ArCa system banks and attached to the app. |
