March 6 (UPI) -- General Motors announced on Monday it is selling its Opel/Vauxhall subsidiary in Europe to France's PSA Group for $2.2 billion.
The transaction involves Opel/Vauxhall's automotive operations, including six factories, five component manufacturers, one engineering center and about 40,000 employees, all in Europe. PSA Group, makers of Peugeot and Citroen brands, will also acquire the European arm of GM Financial, General Motors' car loan and leasing division.