Report: PSA, GM Reach a Deal on Opel Sale

General Motors Co. has agreed to sell its Opel unit to PSA Group, and the deal will be announced on Monday, PSA sources tell Reuters.

No further details have been offered, but Opel has scheduled a meeting with its German workers on Monday. Both carmakers have declined to comment.

Reuters' sources say PSA's board approved the sale earlier today. Key issues in the deal are the disposition of Opel’s $10 billion in pension liabilities, assurances about jobs in Germany and the U.K., and a GM-proposed ban on Opel’s sale of GM-developed models beyond the European market.