GM sells Opel Peugeot and BNP Paribas for 2.2 billion euros

Paris — General Motors (GM) announced today that it closed a deal for the sale of your European unit, Opel, to Peugeot and BNP Paribas for 2.2 billion euros (US $2.33 billion).
Under the agreement, Peugeot will pay 1.3 billion euros for the brands Opel and Vauxhall. Opel''s financial operations will be acquired jointly by Peugeot and at BNP Paribas, for about 900 million euros.
The transaction also provides guarantees for the GM to acquire up to 4.2% of Peugeot''s capital. How these choices can only be carried out five years after the date of issue, the GM will not become a shareholder of French automaker immediately.
To get rid of Opel, who sold your first vehicle at the end of the 19 century and today markets around 1 million cars a year in Europe, GM will see your overall volume dropped about 10% of, which means the Chief Executive of the American company, Mary Barra, no plans to intensify the competition for the title of biggest automaker in the world.
The sharp drop of the pound sterling following the victory of the so-called "Brexit"-process to the withdrawal of the United Kingdom from the European Union, in the middle of last year, ended up with the expectation of making a profit again GM with Opel in 2016. In the British market, Opel sells about 250,000 Vauxhall brand cars in a year.
Despite the loss in volume, GM will have an immediate improvement in your profit margin, since OPEC operates in the Red since 1999 and has been showing annual losses at around $1 billion since then. Already the competitors from Detroit-Ford and Chrysler-Fiat returned to profit in Europe recently.