GM News: Rumorpile: GM Buying 5% of Peugeot-Citroën To Cement Deal
Posted 28 February 2012 - 10:42 AM
Editor/Reporter - CheersandGears.com
February 28, 2012
Last Wednesday, we reported on talks between General Motors and Peugeot-Citroën on a possible alliance. Now, Reuters is reporting the talks have gone into advance stages and General Motors could be buying up a small share.
Reuters has learned from a couple sources at both companies that General Motors would purchase 5% of Peugeot-Citroën as part of their alliance deal. The stake could be worth $240 million dollars at Peugeot's current market value of $4.8 billion.
Sources say the deal could be announced within the next few days, but caution that an agreement has not been reached and the talks could still fall apart.
When asked for comment, GM and Peugeot-Citroën didn't respond.
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Posted 29 February 2012 - 03:09 PM
Maybe they'll use their voting seat to eventually kill PSA so they have less competition.
Me Like this Idea!
Also as someone else stated, use this arrangement to finally kick Opel inline to clean up the house and become profitable or shut t down.
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