Friday, December 01, 2006

GMAC Completes Sale of 51% of GMAC
$10 Billion Cash Infusion

General Motors completed the sale of a 51% interest in GMAC to private Equity Fund Cerebus Group. As part of the deal, General motors will get up to $10.5 billion in cash this year. Four billion more will be paid to GM over the next three years.
More info is available at this Detroit News link.
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