General Motors on Thursday (12 December, 2013) said had completed the sale of its 8.5% stake in Ally Financial for about $0.9bn.
It will book a gain of about $0.5bn as a special item in the fourth quarter of 2013.
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“This transaction releases capital from a non-core asset and further enhances our financial flexibility,” said Dan Ammann, GM executive vice president and chief financial officer.
“Ally [once GMAC] continues to play an important role in financing our dealers and customers in the United States.”
