Opel is (Almost) Officially Gone

In a quiet note at the beginning of August, General Motors and PSA Groupe have officially announced the sale of Opel and Vauxhall has been finalized.

After months of haggling over future development contracts, headcounts, and pension obligations, both sides finally get what they want: for GM, an immediate improvement in its financial health, while PSA gains access to new platforms and technology which will arrive with Opel.

“We’ve taken another bold step in our ongoing work to transform GM,” said GM President Dan Ammann. “This transaction allows us to sharply focus our resources on higher-return opportunities as we expand our technical and business leadership in the future of mobility.”

Now that both sides have agreed to the terms the sale will be subject to various European regulatory approvals, which aren’t expected to be an issue and will be handed down later this year.