General Motors 2012 Annual Report Download - page 46

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
In September 2012 we acquired security interests in the mandatorily redeemable preferred shares issued by GM Korea for
$0.3 billion. The transaction did not meet the criteria for an extinguishment of the liability. Therefore we have classified these
interests as an available-for-sale marketable security. GM Korea has since partially redeemed the mandatorily redeemable preferred
shares which reduced the fair value of the security interests we hold to $0.2 billion at December 31, 2012.
In February 2012 we entered into an agreement with PSA to create an alliance to leverage the strengths and capabilities of our two
companies and acquired a seven percent equity stake in PSA for $0.4 billion; against which we recorded impairment charges of
$0.2 billion in the three months ended December 31, 2012. Refer to Note 7 to our consolidated financial statements for additional
information on our investment in PSA.
General Motors Company 2012 ANNUAL REPORT 43