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TRUCKMAKERS NEWS * USA / France
* GM may buy 7 percent Peugeot stake
Paris,France/Detroit,MICH,USA -Bloomberg News, by Aaron Kirchfeld, Jackie Simmons, Jeff McCracken and Zijing Wu -February 28, 2012: -- PSA Peugeot Citroen may announce as soon as this week plans to sell a stake of about 7 percent in the French carmaker to General Motors Co. as part of a development alliance, people familiar with the matter said... The deal would involve a standstill agreement by which GM would not take a greater holding in the Paris-based carmaker without permission, said the people, who asked not to be identified because the talks are private. Financial daily, Les Echos, cited unnamed sources saying that GM might initially take a stake of under 5 percent in PSA Peugeot Citroen... A GM-Peugeot alliance may include developing engines and building vehicles together in the region, a person familiar said last week... GM, the world's largest carmaker, is looking for ways to turn around its unprofitable Opel brand, while Peugeot is seeking to stem a growing debt load. Peugeot's 2011 sales in Europe plunged 8.8 percent to 1.68 million vehicles. GM's dropped 1.9 percent to 1.17 million. Auto executives expect deliveries in the region to shrink in 2012 for a fifth year... No final agreement has been reached on the alliance and the size of the stake could change, the people said...
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