Skip to content
Subscriber Only

GM-Peugeot Seen as Europe Money-Losers Still Losing Money

PSA Peugeot Citroen plans a 1 billion-euro ($1.34 billion) rights offering to raise cash as part of a partnership with General Motors Co., according to people familiar with the matter.

GM, the world’s largest carmaker, will buy about 7 percent of the French carmaker and take part in the new share sale, the people said, declining to be identified discussing private talks. The Peugeot family, which owns 30 percent of the Paris-based company as its biggest shareholder, agreed to participate in the rights offer, one of the people said.