Peugeot agrees alliance deal with GM - sources

Newswire

PARIS, Feb 29 (Reuters) - PSA Peugeot Citroen agreed to form an alliance with General Motors, sources with knowledge of the discussions said on Wednesday. GM will take a 7 percent Peugeot stake as part of a share issue by the French automaker, and the two companies will pool research and development, vehicle platforms and technologies to target $2 billion in savings, a source said. The agreement is to be announced after European markets close later on Wednesday, the sources said. (Reporting ...

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