General Motors called up Goldman Sachs one dark afternoon in mid-December and asked it to sell its entire stake in PSA Peugeot Citroën, at the time worth about €270m and the second largest after the Peugeot family.
The surprise sale, which severely hit the share price, came in a week that marked a rough end to the year for the struggling French carmaker.
In the same seven days Peugeot admitted that its alliance with GM would save less money than expected and it was forced to write down €1.1bn on its foreign operations, Peugeot also finally announced what everyone knew: the proudly French company was in talks with state-owned Chinese carmaker Dongfeng for a financial lifeline.
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