Carmakers General Motors and PSA Peugeot Citroen have signed a strategic cooperation deal, the companies said Wednesday, dpa reported.
The news was announced after the close of European markets. As part of the deal, PSA would seek to raise more capital, with General Motors eventually taking a 7-per-cent share of the company.
PSA and GM's European subsidiaries - Opel and Vauxhall - have suffered declines in market share in recent years amid a general weakening in the European car market.
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