General Motors wants to become the second-largest shareholder in PSA Peugeot Citroen, and the gears of a deal for seven percent of the French automaker are beginning to mesh. It cost General Motors $423 million to buy into PSA, and the companies will remain competitors despite lashing their rafts together. Both automakers would like to net cost savings over the course of the initial 10-year term of the partnership by leveraging their collective purchasing power for better prices from suppliers and also sharing economies of scale.
Autoblog, GM stake in Peugeot will cost $423 million
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