General Motors and PSA Peugeot Citroen have confirmed the creation of a “long-term and broad-scale” strategic alliance they expect to contribute to improved profitability and
competitiveness, especially in the weak European market where both makers have been struggling.
As part of their new partnership, GM will take a 7% equity stake in the French manufacturer,
becoming the second-largest shareholder in PSA after the founding Peugeot family, which will continue to hold a one-third stake in the firm.
Read the whole story at The Detroit Bureau »