General Motors sale of Opel to PSA could be completed by end July

Friday, Jun 09, 2017

Opel, the European arm of General Motors, said its sale to France's Peugeot could be completed as early as July 31, pending regulatory approval.

"We confirm that the closing is expected to take place in the second half of 2017 as planned, and that the date of 31 July constitutes a first assumption for the earliest possible date, subject to the decision of the competition authorities,” Opel said in a statement on Thursday.

In March, France's PSA Group said it plans to buy Opel from General Motors in a deal valuing the business at 2.2 billion euros ($2.3 billion).

Germany's Allgemeine Zeitung was first to report that the closing date could be the end of July.

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