In 2012, PSA Peugeot Citroën and General Motors formed an alliance, which involved General Motors acquiring seven percent of the PSA Group. The ownership was soon divested on December 13, 2013, generating "gross proceeds of €0.25 billion." By 2017, Groupe PSA considered taking over Opel from GM, after GM reported a loss of $257 million from its European operations in 2016, the sixteenth consecutive loss-making year for GM in Europe, bringing its total losses in Europe since 2000 to more than US$15 billion. On March 6, 2017, the sale of Opel and Vauxhall to the PSA Group for $2.3 billion was confirmed.