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Europe
GM to Take Five Percent Stake in Peugeot
2012-02-29
[An Nahar] U.S. auto giant General Motors is in talks to buy out five percent of La Belle France's biggest car builder PSA Peugeot Citroën, business daily Les Echos reported on Tuesday citing several sources.

Sources close to the negotiation said the deal was a so-called standstill agreement in which GM could not increase its stake in Peugeot without prior permission from the car group.

Last week French Labor Minister Xavier Bertrand revealed that GM and Peugeot were in talks towards a strategic partnership confirming a report on a website.

Contacted by Agence La Belle France Presse, Peugeot refused all comment.

Peugeot is La Belle France's top car manufacturer, ahead of Renault, and Europe's second, behind Volkswagen.

The Peugeot family controls 30.3 percent of the capital and 45.75 percent of voting rights in the firm which effectively took over French car manufacturer Citroen in 1976.

Last year, the firm, which employs 205,000 people worldwide, sold 3.5 million cars around the world, two-thirds of them in Europe where the market is under pressure as the economy slows sharply.
Posted by:Fred

#5  What's Frenchish for Fix It Again Tony?
Posted by: SteveS   2012-02-29 21:31  

#4  I foresee another Cadillac Cimmeron - diesel version will be like an Olds
Cutless Diesel redux. Ruining the magnificent if quirky Saab (of which I own one) our tax dollars are now used to buy a true dodo.
Posted by: borgboy   2012-02-29 19:54  

#3  Savings here in that GM can just strike out the name Saab in that already written business plan and replace with Peugeot... Ought to be able to find a consulting group to do that for under $50,000,000.
Posted by: Capsu78   2012-02-29 12:37  

#2  GM U.S. taxpayer to Take Five Percent Stake in Peugeot
Posted by: Pappy   2012-02-29 11:49  

#1  Exactly what we need, A Peugeot/Chevy.(sarc)
Chevy hasn't learned a damn thing,

I own a Nissan pickup that's another cross brand/Chevy, It's a fairly good Pickup, but hard to get parts for.
Posted by: Redneck Jim   2012-02-29 02:22  

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