PSA moves fast to stamp authority on Opel/Vauxhall as deal closes

FRANKFURT – PSA Group put new managers in place at Opel and Vauxhall on Tuesday, completing a $2.6 billion takeover that makes the French company Europe’s second-largest carmaker by sales. General Motors sold off its loss-making European operations to the owner of the Peugeot, DS and Citroen brands, which has a better track record of profitability manufacturing small cars in Europe.