PSA agrees to buy Opel in $2.3 billion deal, sets recovery goals

PARIS -- PSA Group agreed on Monday to buy General Motors's Opel unit in a transaction valued at 2.2 billion euros ($2.3 billion). The French automaker vowed to return Opel and its UK-based sister brand, Vauxhall, to profit with an operating margin of 2 percent within three years and 6 percent by 2026, underpinned by 1.7 billion euros in joint cost savings.