A Peugeot car drives past the logos of French car maker Peugeot and German car maker Opel at a dealership in Villepinte, near Paris, France, February 20, 2017. REUTERS/Christian Hartmann
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French car maker PSA, which owns the Peugeot and Citroen brands, said Thursday net profit for 2016 nearly doubled as the group pushes plans to buy General Motors' European brands Opel and Vauxhall.Net profit for the full year rose 79 percent to 2.15 billion euros ($2.27 billion) with the auto giant pledging to pay shareholder dividends for the first time since 2011 to the tune of 0.48 euros per share.If the planned takeover is successful, it would see PSA regaining its position as the second-biggest car manufacturer in Europe after Germany's Volkswagen group. Following the results, shares in the French automaker were little changed on the Paris stock exchange, down just 0.1 percent at 18.73 euros.
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