Factbox: Details of GM's sale of Opel to PSA

By By Nick Carey Features Reuters

France's PSA Group said on Monday it agreed to buy Opel and its British Vauxhall brand from General Motors in a deal valuing the business at 2.2 billion euros ($2.3 billion).

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Below is a summary of some details of the transaction, which is expected to close in 2017:

- GM will receive 1.32 billion euros for the Opel manufacturing business in the form of 650 million euros in cash and 670 million in PSA share warrants.

- PSA and BNP Paribas will pay 900 million euros for Opel's financing arm, to be operated jointly and consolidated by the French bank.

- PSA says it will return Opel and its British Vauxhall brand to profit, with an operating margin of 2 percent within three years and 6 percent by 2026.

- PSA says profit can be achieved in part through 1.7 billion euros in joint cost savings. In a client note, Barclays equity research analysts said this was below the 2 billion euros in savings targeted by GM and Opel in 2012.

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- The Opel sale cuts GM's cash balance requirement by $2 billion, allowing it to accelerate share repurchases.

- GM will record a special, non-cash charge of $4 billion to $4.5 billion.

- GM will retain $6.5 billion in underfunded pensions at Opel.

- The U.S. automaker will also issue $3 billion in debt toward covering some $3.2 billion in underfunded pensions that will be transferred to the German government.

- GM says that without Opel, its adjusted earnings per share in 2016 would have been $6.40, versus its reported total of $6.12. The company's adjusted margin would have been 8.6 percent, versus the 7.5 percent the Detroit-based company reported.

- Opel has six assembly plants, five component plants and around 40,000 employees.

($1 = 0.9432 euros)

(Reporting By Nick Carey; Editing by Meredith Mazzilli)