March 3, 2017 / 5:27 PM / 6 months ago

PSA reaches deal to buy Opel from GM, wins board approval - source

PARIS, March 3 (Reuters) - French carmaker PSA Group reached an agreement with General Motors to buy the U.S. carmaker's loss-making Opel division and won the support of its own board for the deal on Friday, a source familiar with the matter told Reuters.

The Paris-based maker of Peugeot and Citroen cars plans to announce the acquisition early on Monday, the source said. A company spokesman declined to comment. (Reporting by Laurence Frost and Gilles Guillaume; editing by Andrew Callus)

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