GM stake in Peugeot sold in a day, GM loses millions

From AB
GM Completes Sale of PSA Equity Stake
DETROIT, 2013-12-13 – General Motors Co. today announced it has completed the sale of its entire 7 percent stake in PSA Peugeot
Citroen through a private placement to institutional investors. The private placement of 24,839,429 shares generated gross proceeds of €0.25 billion.
This announcement is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities and the offer of PSA shares does not constitute a public offering in any jurisdiction, including France.
The offer and sale of the PSA shares referred to in this announcement has not been, nor will be, registered under the United States Securities Act of 1933 (the "Securities Act") and the PSA shares may not be offered or sold in the United States absent such registration or an applicable exemption from the registration requirements of the Securities Act. There will be no public offering of the securities in the United States in connection with this transaction.
Any investment decision to buy shares in PSA must be made solely on the basis of publicly available information regarding PSA. Such information is not the responsibility of GM and has not been independently verified by GM.
Release, publication or distribution of this press release is forbidden in any country where it would violate applicable laws or regulations.
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