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General Motors said Thursday it is selling its entire stake in PSA Peugeot Citroen, but stressed its manufacturing alliance with the struggling French automaker remains strong. GM said it is placing the 7 percent stake, or 24.8 million shares, privately with institutional investors, after holding them for less than two years. With Peugeot entertaining a closer relationship with China's Dongfeng Motor, GM said its equity support for the company is no longer necessary. "Our equity stake was planned to support PSA in their efforts to raise capital at the time of the creation of the GM and PSA alliance, and that support is no longer needed," said GM Vice Chairman Steve Girsky.