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Breaking: General Motors close to selling 51-percent stake in GMAC to investor c

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1# A A A Post at 7-11-2006 18:21  Show author

Breaking: General Motors close to selling 51-percent stake in GMAC to investor c

According to newswire Reuters, General Motors is in discussions with an investor group to sell a 51-percent stake in GMAC financial. The Cerberus Capital Management-led coalition is expected to be worth around $11 billion, with a ‘broad structure of an agreement’ already settled.

The deal isn't final yet-- GM’s board must sign off on the deal to sell the stake.

[Source: Reuters]


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