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		</div><p>The European Union has approved French car maker PSA&#8217;s acquisition of Opel and British brand Vauxhall from General Motors. The European Commission said it had given unconditional approval after it &#8220;concluded that the transaction would raise no competition concerns in the relevant markets&#8221;. After losing money in Europe for years, GM announced in March that it would sell Germany-based Opel and sister brand Vauxhall to PSA in a deal worth 2.2 billion euros (£1.9 billion).</p>
<p>The acquisition will make PSA the number two European car manufacturer after Germany&#8217;s Volkswagen.<br />
PSA strategy director Patrice Lucas described the decision as &#8220;an important step&#8221; and said the companies&#8217; teams are concentrating on fulfilling other conditions necessary to close the deal, expected before the end of the year.</p>
<p>The two companies said that while the decision approves the acquisition of the automotive business, EU competition authorities are still reviewing the planned acquisition of GM Financial&#8217;s European operations by BNP Paribas and PSA.</p>
<p>A decision on that is expected in the year&#8217;s second half, they said.</p>
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