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The French automaker Peugeot-Citroen completed the acquisition of the European assets of the US giant General Motors, including the German Opel and British Vauxhall, reported Associated Press.
A preliminary USD 2.5 billion deal was signed on March 6, 2017. A new management has been elected, which has 100 days to present a plan to rescue the business. Opel's goal is to return to profit in 2020, and by 2026 to achieved a 6% profit margin after years of loss. Automobile manufacturers are hoping to save 1.7 billion euros a year thanks to the acquisition. PES director Carlos Tavares stressed that "Opel will remain German and Vauxhall will be British." With the end of the deal, PeS became the No. 2 automaker in Europe, after Volkswagen, and now occupies a market share of 17 percent (on the continent) for the first half of the year.
Elon Musk, after acquiring Twitter for $44 billion in 2022, dismissed several top executives, including Parag Agrawal, Ned Segal, Vijaya Gadde, and Sean Edgett
The long-standing question of why major tech players have overlooked Bulgaria seems to have been answered, albeit in a surprising manner
One person died, five are hospitalized, among them a 10-month-old baby and two boys aged 12 and 15, after an accident on the Pazardzhik-Belovo road
Overall in 2019, new-car registrations increased by 1.
Italian-American carmaker Fiat Chrysler confirmed this morning that it is negotiating a merger with the French car group PSA, which owns Peugeot, France Press and DPA reported.
Film Company bought half of Delyan Peevski's newspapers.
Up to 90 percent of construction and renovation workers in Bulgaria are operating outside the legal framework, according to entrepreneur Lozan Lozanov, who raised concerns about the lack of regulation in construction and installation services
The Ministry of Finance has released a broad public dataset covering more than 7,000 public procurement contracts with a combined value exceeding 30 billion euros
Mobile slot gaming has exploded in popularity, and it’s easy to see why.
Caretaker Finance Minister Georgi Klisurski said he expects fuel prices at gas stations to ease in the coming period, pointing to a sharp decline in international oil markets
Boris Azarenko is an entrepreneur whose professional background lies in banking and finance and who later founded major property development businesses.
Bulgaria’s new government borrowing for 2026 has surpassed the 1 billion euro mark following the latest successful auction of state securities, according to data cited from the Bulgarian National Bank
Aniventure Comic Con Returns to Bulgaria with Star Guest Christopher Judge!
Global Fuel Shock: Oil Jumps Over 40% Since Iran War Began
