General Motors has sold in full its stake in the capital of the French carmaker PSA Peugeot Citroen, equal to 7%, or just over 24,8 million shares. As stated in a note from the Detroit giant, it was a private placement to institutional investors. GM bought the stake when it entered into a strategic alliance in March 2012.
"Our stake was to support PSA in its capital-raising efforts at the time the alliance between GM and PSA was created, and that support is no longer needed," said GM vice chairman Steve Girsky, according to whom "the alliance remains strong with focus on joint programs for vehicles, purchasing and logistics”.
GM also specifies that the company "is making good progress, while remaining open to new opportunities".
